("KR1" or the "Company")
Extreme Volatility in Bitcoin and Digital Asset Markets
Yesterday, Bitcoin and other cryptocurrencies saw extremely volatile markets, with Bitcoin seeing its second worst day of returns in Bitcoin's entire trading history, with a percentage daily drop that has not been seen since 2013.
While previous extreme volatility events featured a fairly strong fundamental basis of reasoning around the price discovery on those respective days, i.e. the MtGox Exchange hack and Bitcoin theft in 2013 or the rejection of the first major Bitcoin ETF proposal by the
KR1’s long-term investment approach remains unchanged and we are seeing many truly disruptive and innovative projects in the Ethereum, Cosmos and Polkadot ecosystems with funding rounds finalizing soon.
KR1 has been monitoring the situation closely since yesterday morning, and the Company wants to assure shareholders that none of KR1’s assets were liquidated or threatened by the extreme volatility. However, as expected, the portfolio experienced a price shock of the underlying assets throughout the night that slightly recovered by this morning.
KR1 is also pleased that the Companies’ staking strategy has been performing very well and most staking proceeds were realized in recent weeks, before the price drop. KR1 will update on the Company’s staking activities shortly, after the first full-year from launch of the Cosmos Network, detailing 12 full months of staking activity.
“Bitcoin saw an extreme roller-coaster ride yesterday, starting around
For further information please contact:
George McDonaugh +44 (0)16 2467 6716
Simon Nicol simon@KR1.io
Peterhouse Capital Limited (NEX Corporate Adviser)
Mark Anwyl +44 (0)20 7469 0930
Angus Campbell pr@KR1.io
KR1 is a leading digital asset investment company supporting early-stage decentralised and open-source blockchain projects. Founded in 2016 and publicly traded in