Technology

Tezos Foundation Holds $ 300 Million Bitcoin Reserves

Nearly half of the reserves of $ 635 million of the group behind the event of the Tezos protocol are saved in bitcoins. Such knowledge are supplied within the newest semi-annual report of the Tezos Foundation.

Because the ICO, the worth of Tezos Foundation belongings has elevated from $ 232 million to $ 635 million. From the earlier report in July, the share of bitcoin fell from 61% to 47%, and the quantity of reserves decreased from $ 652 million to $ 635 million.

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<p id=Supply: Tezos Foundation

Along with bitcoins, the corporate's reserves encompass a local XTZ token (23%), in addition to a stabilization fund (16%), which incorporates bonds, ETFs and commodity contracts.

The share of Ethereum, during which, together with BTC, funds had been raised as a part of the ICO, is lower than 6%.

Tezos Foundation reserves function assist for Tezos builders. Over the past reporting interval, the group allotted $ 37.6 million to 78 new tasks, bringing their complete quantity to 1338.

Recall that the XTZ token is the second largest funding asset within the portfolio of the well-known bitcoin maximalist enterprise investor Tim Draper.

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