Goldman Lampe Private Bank said it has purchased approximately €120 million worth of Bitcoin, increasing its digital asset holdings following a recent decline in the cryptocurrency’s price.
The Ras Al Khaimah-based private bank said the acquisition was made during the recent market pullback and forms part of its strategy to expand exposure to digital assets for its institutional and high-net-worth client offering.
The bank did not disclose the timing of the purchase, the average acquisition price, or whether the Bitcoin was acquired for its own balance sheet, client portfolios, or both.
Goldman Lampe has positioned itself as a provider of cryptocurrency-focused private banking services, including crypto term deposits and digital asset investment products for wealthy clients.
The announcement comes as institutional interest in Bitcoin continues to grow, with banks, asset managers and other financial institutions gradually expanding their digital asset offerings through custody, trading and investment products.
Founded in 1934, Goldman Lampe Private Bank is a boutique wealth management institution headquartered in Ras Al Khaimah. In addition to traditional private banking services, the firm offers gold bullion trading and cryptocurrency-related products aimed at high-net-worth individuals.
