Tezos Foundation's bitcoin portfolio fell from 61 per cent in July to 47 per cent by January's end, according to its biannual<a href="https://tezos.foundation/news/tezos-foundation-releases-second-biannual-update"> report</a>. The value generated from the massive sell-off was reinvested in other assets and cryptocurrencies.

Based in Switzerland, the Tezos Foundation had $397.7 million worth of bitcoin in its reserves. This was around the time when bitcoin was trading at $10,000, which mean they had around 39,700 BTC at that point in time.

By January 31, numbers changed drastically as the company sold off almost 8,000 bitcoins and were left with 31,800 BTC as bitcoin was at the spot price of $9,400. Even after considering the currency breakdown in bitcoin's price, that's still a decent figure as those 8,000 coins would be worth $53 million. Tezos value did suffer from a drop, as the portfolio fell from $652 to $625 million in these six months.

The value generated was reinvested into cryptocurrencies like Ethereum, and also was put to use in bonds, and fist currencies. The exposure of Tezos token (XTZ) also went from 15% to 23%, and it's price increased at a great pace, almost a 40 percent increase.
<h2>Bitcoin Still Key-Tezos CEO</h2>
The CFO of Tezos, Roman Schneider noted that while bitcoin is still considered as a key asset for value, their asset strategy policy was to primarily pay attention and invest in their long term objectives, while staying away from short term market moves.

Investments into a stability fund – a diversified range of exchange-traded funds (ETFs) and bonds – as well as fiat currencies, acted as risk management instruments that ensured "operational effectiveness" against crypto volatility, Schnider added.

In its report, the Tezos foundation stated that it has no intentions in getting involved In liquidating its token XTZ, which was allowed to the genesis block or it generated itself with its baking activities, which is used to produce blocks and secure the Tezos protocol.

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Tezos Foundation sold 8k Bitcoin in 2019 to Invest in Other Assets

Tezos Foundation sold as many as 8,000 bitcoins in 2019, it reported in its biannual report. The value was then invested in other assets.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Tezos Foundation sold 8k Bitcoin in 2019 to Invest in Other Assets

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