Bit Digital Inc (BTBT) Stock Surges 13.44% Following Major Ethereum Asset Transfer Announcement

On July 7, Bit Digital Inc (BTBT) experienced a significant market uptick, with its stock price increasing by 13.44% to close at $3.34. This surge follows the company’s strategic decision to reallocate its cryptocurrency portfolio by transferring all digital assets to Ethereum. Bit Digital executed the sale of 280 Bits, leveraging the capital generated to expand its holdings in Ethereum. This move reflects a tactical shift aimed at optimizing asset allocation within the volatile crypto market, signaling confidence in Ethereum’s long-term value proposition. Investors and market analysts are closely monitoring Bit Digital’s asset management approach as it adapts to evolving blockchain trends and market dynamics.