High-flying Argo blockchain has become the lead investor in Pluto Digital Assets PLC in a move which helps diversifies the business from a cryptocurrency miner to one with also has further potential upside and influence from its wider adoption and integration.
Pluto is a technology company that invests and supports digital asset projects based on decentralised technology that is run by a leadership team who are well-experienced in the cryptocurrency business.
Commenting on the 25 percent stake taken in the business at a cost of £1m was Peter Wall of Argo Blockchain:
“Argo believes not just in Bitcoin, but in the entire cryptocurrency ecosystem. We have always been extremely bullish on how cryptocurrencies will transform the global financial system. Our early stage investment into Polkadot in 2019 was a perfect example of this belief and we are now excited to be using that same investment to buy a significant stake in Pluto, who are actively looking for projects with high yield potential.”
Investors will also take note of Peter Wall’s optimism in the wider cryptocurrency ecosystem which echoes sentiment from some of the world’s biggest institutions.
While there were fears of a crash in Bitcoin prices following its recent all-time highs, the digital currency has shown great resilience and continues to edge back up to $40,000.
Argo Blockchain’s surge price is currently on an upward trajectory following a recent private placing to fuel growth.