UAE-based Goldman Lampe Bank buys $137M in Bitcoin

Goldman Lampe Private Bank, based in Ras Al Khaimah, UAE, announced it recently purchased $137 million worth of Bitcoin, taking advantage of the recent market correction. The bank, which previously launched the world's first crypto fixed deposit product, stated that Bitcoin has proven its resilience as a store of value and a strategic asset. A representative for Goldman Lampe added that the bank saw the correction as an opportunity to increase its holdings and intends to continue combining traditional finance with cryptocurrency technology.