TAO Synergies Holds 42,111 Bittensor Tokens After $10M Buy-In
TAO Synergies, the Nasdaq-listed digital asset vault formerly known as Synaptogenix, has built a 42,111-TAO-token treasury on the Bittensor network through purchases and active staking. In July, TAO Synergies invested $10 million to acquire 29,899 TAO at an average price of $334 per token, boosting its position as the largest publicly traded Bittensor treasury. Supported by BitGo custody and staking infrastructure, the firm will continue accumulating TAO to enhance staking revenue and reinforce network security. With Bittensor’s market capitalization near $3.3 billion and TAO trading around $345, TAO Synergies aims to drive token appreciation and shareholder value. Another major holder, xTAO, held 41,538 TAO in July, reflecting rising institutional interest in decentralized AI assets.
Bullish
TAO Synergies’ significant purchase and staking of 42,111 TAO tokens signals strong demand and confidence in the Bittensor network, driving upward price pressure in the short term as supply tightens. The integration with BitGo for custody and staking infrastructure enhances market liquidity and institutional credibility, likely boosting trader sentiment. In the long term, continued accumulation bolsters network security and generates predictable staking revenue, underpinning TAO’s value proposition. Combined with rising institutional interest in decentralized AI assets, these factors collectively support a bullish outlook for the TAO token.