CoinCorner, one of the leading UK-based cryptocurrency exchanges, had acquired BitIreland. The news comes right after the company announced 90% of its customers bought Bitcoin rather than sold last month.
Mergers and acquisitions are a crucial part of ongoing cryptocurrency industry growth. Many companies often note initial success but cannot reach the next step under their own power. That makes them of great interest to “competing” service providers who want to push the broader Bitcoin narrative.
BitIreland is an Irish Bitcoin exchange. Although it is not necessarily a household name outside of its home country, it has attracted tremendous attention. Based out of Dublin since 2018, the platform helped introduce more people to Bitcoin and cryptocurrencies. Every exchange and service provider in the space does its job to ensure everyone gains access to the new paradigm of money.
CoinCorner decided to acquire the exchange for an undisclosed sum. It is the second major recent acquisition by CoinCorner after they acquired Coinfloor in late 2021. Despite bearish market conditions in late 2021 and throughout 2022, CoinCorner’s team has pushed the Bitcoin narrative and strengthened its market position.
Following the acquisition, BitIreland customers will need to migrate their accounts to CoinCorner. It is an easy process, and every customer will receive instructions via email. Everyone will retain access to buying and selling Bitcoin, although they will do so through a different platform than before.
Speaking of buying and selling Bitcoin, CoinCorner customers seem as bullish as ever. Throughout January 2023, nine in ten customers bought BTC, rather than selling it. That may be due to the rising prices, although those could entice more people to sell their holdings.
It appears Britons are eager to stack sats and keep growing their portfolios. Some may even do so through dollar-cost averaging, one of the most efficient ways to build a personal Bitcoin war chest.
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