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Dominari Holdings announced on Friday its strategic move to enhance its investment portfolio by integrating Bitcoin into its corporate treasury. The public holding company known for its expertise in wealth management investment banking trading and asset management has begun purchasing shares of BlackRock’s iShares Bitcoin Trust ETF the largest spot bitcoin exchange-traded fund. This initiative is part of Dominari’s plan to allocate a portion of its excess cash and earnings toward growing its Bitcoin treasury which currently stands at $2 million.
With this new strategy Dominari’s management aims to continue bolstering its alternative coin treasury as its cash reserves expand. The company’s engagement in such innovative investment avenues reflects its commitment to adopting emerging technologies that promise long-term value and growth.
The announcement was made alongside the release of Dominari’s fourth-quarter earnings where they forecasted a total revenue of approximately $19 million for 2024. The significant part of this revenue over $8 million was recognized in the fourth quarter alone. CEO Anthony Hayes emphasized the company’s ongoing focus on expanding its comprehensive investment banking services and its dedication to evolving into a dynamic holding company.
