Celsius Holds Over 100 Bitcoins, Reaching A New High

Celsius holds over 100 bitcoins as of late and the company marked a new high in assets so now BTC accounts for 25% of the platform’s total community assets as we can see more in our latest bitcoin news.

Despite the challenging month for BTC, the company reported that Celsius holds over 100 bitcoins and said that the user inflows doubled over the past month so now they have about 750,000 users globally. The company’s landmark passing of 100 BTC holdings set a new company high. The APY rewards for Celsius users vary between 3.51% and 6.2% for US users depending on the number of coins in their account. International customers are offered 4.4% APU for BTC in their Celsius accounts and in today’s release, the company noted that 2500 BTC were paid out to customers in crypto rewards.

The other side of Celsius’s business is via borrowing as the firm offered no origination fees, no credit checks and refinance options as well as the aggressive rates for the borrowers which led to the increase in crypto lending and could even improve the liquidity and price discovery for many assets that come with inherent risks.

Celsius holds over 100 BTC and keeps emerging in the competitive Defi crypto lending landscape as it battles with notable contenders like BlockFi and Nexo. The aggressive rates continue to become a major sticking point for the consumers as BlockFi is now offering anywhere from 0.5% to 5% APU for BTC interest and Nexo offers between 6 and 8%. the rates vary and can fluctuate and will also depend on whether the consumers are redeeming them via BTC or through the native coin of the platform but the native token rewards are typically not accessible for the US consumers.

Celsius started off in 2017 and looks to maintain an aggressive strategy to grow the position on the market as it amassed over $5 billion in crypto assets. The company continues to look at new partnerships to improve growth including the recent one with NBA star Spencer Dinwiddie. The platform will also look at more corporate partners to boost growth as well. It partnered with B21 which allowed it to launch a new “earn” feature that allows the company’s users across 82 different countries access to yield services.