Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) updated investors on its crypto-asset treasury holdings, which today stood with a value of US$4.22mln up some 113% since the prior update at the time of the group’s interim results in September.
The company, in a stock market statement, noted that its crypto-asset holdings are predominantly denominated in highly liquid cryptocurrencies – with the two largest cryptos, Bitcoin and Ethereum, representing some 82.8% of the fully vested assets.
“The ongoing strength in the cryptocurrency markets continues to be reflected in the robust growth of our crypto-asset treasury holdings and significantly bolsters our cash position,” said executive chair Malcolm Palle.
“As investors are aware, most of our cryptocurrency reserves have been derived from revenues originally generated from our advisory work and from bonuses associated with the investments we have made. As our venture and investment activities ramp up, our focus now is to ensure that these resources continue to be managed wisely and in the most effective way to optimise the company’s growth trajectory.”
Coinsilium also noted the recent strength of the IND token that underpins the BlockBots ‘play to earn’ NFT game and is expected to see more demand in the future as .
The company holds 5.35mln INDs, representing some 14% of the crypto’s circulating supply equating to a cash value around of US$385,192.