Institutions Clamor For Bitcoin: Crypto Giant Coinbase May Acquire Xapo6.2

In an impeccable sign of the times, sources tell The Block that Coinbase may soon acquire Xapo, one of the first and most well-regarded Bitcoin custodians. This news has been divulged as data indicates that institutions are looking to siphon capital into the crypto asset space, thereby making custodians a necessity.

Reported by The Block on Thursday morning, the San Francisco-based cryptocurrency giant Coinbase is “in advanced talks” to purchase Xapo, a Zurich-headquartered custodian that purportedly owns at least 5% of all BTC in circulation, worth billions of dollars. In fact, Xapo has been reported to store the Bitcoin in Grayscale’s Trust (over 1% in circulation) in military vaults in Switzerland, sequestered away in mountain ranges.

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