A leading Nordic crypto exchange, Safello, has increased its exposure to TAO, the native token of the decentralized AI network Bittensor.
Leading Nordic crypto exchange Safello has increased its exposure to TAO, the native token of the decentralized AI network Bittensor. The company sold 19 ETH each day to purchase 229.35 TAO tokens at an average price of 370 euros per token on May 20 and 21, according to a company statement.
This marks the third time this month that Safello has reallocated a portion of its crypto treasury to TAO. On the 8th and 14th of May, the exchange used Bitcoin to purchase the token. After these purchases, Safello’s crypto treasury now comprises 8 Bitcoin, 75 Ethereum, and 698.36 TAO. The crypto exchange’s treasury is now valued at approximately $1.41 million.
Safello’s crypto treasury is currently valued at approximately $1.41 million, reflecting gains from its diversified holdings. With Bitcoin trading at $110,864, Ethereum at $2,653, and TAO at $464.98, the value of Safello’s assets has risen notably, particularly due to recent gains in TAO. The coin trades at $464, a 0.2% drop in the past day after a 39.2% rise in the past month.
According to Safello, this strategy aligns with a long-term dollar-cost averaging approach designed to diversify and stabilize its digital asset portfolio.
Safello, registered and supervised by the Swedish Financial Supervisory Authority since 2013, serves over 404,000 users with services to buy, sell, store, and transfer cryptocurrencies. The platform, known for its emphasis on security and regulatory compliance, has been listed on the Nasdaq First North Growth Market since 2021. The exchange’s approach to treasury management reflects its broader strategy of positioning itself at the forefront of crypto innovation.
This trend of global firms allocating capital into digital assets continues, with U.S.-based software company Strategy leading the pack, holding over 576,230 BTC, worth more than $63.8 billion at current prices. Galaxy Digital, an asset management and blockchain-focused firm, owns around 8100 BTC, while Tesla, though more conservative recently, still holds approximately 11,509 BTC.
These companies, like Safello, see cryptocurrencies not just as assets but also as technological investments. While Strategy views Bitcoin as a reserve asset, Safello’s focus on TAO reflects a bet on decentralized AI protocols as future infrastructure.
