While many institutions struggled to recover from the market downturn experienced in March, publicly traded, blockchain focused firm BTCS Inc. (OTCQB: BTCS) has increased its portfolio by 285% in Q2 2020, through well timed investments in both Bitcoin (BTC) and Ethereum (ETH), and crossed the $1 million mark for cryptocurrency asset under management (AUM).
Following the positive growth performance seen in Q2 2020, BTCS is reportedly eyeing further growth and systemic diversification of its cryptocurrency holdings. However, BTCS says its investment strategy will only focus on cryptocurrencies which it believes are not securities.
Timely Crypto Purchasing Catapults BTCS Portfolio Valuation
At the end of June 2020, the BTCS crypto portfolio stood at a total value of $1.02 million with sizeable positions in BTC and ETH. Having elected not to add further investments to its portfolio, BTCS navigated the massive decline in cryptocurrency prices seen in mid-March.
With the World Health Organization (WHO) classifying the coronavirus as a…