Reliance Global Group purchases Bitcoin for treasury holdings

Reliance Global Group, Inc. (NASDAQ: RELI) completed its first Bitcoin purchase as part of its Digital Asset Treasury initiative, the company announced. The purchase represents the company's largest cryptocurrency position to date.

The Bitcoin acquisition follows earlier purchases of Ethereum and Cardano this month. The company now holds three cryptocurrencies in its treasury portfolio, representing what it describes as major blockchain networks.

With the Bitcoin purchase, Reliance joins other Nasdaq and NYSE-listed companies that hold Bitcoin in their treasuries. The company stated it views Bitcoin as a store of value rather than a speculative asset.

"Our earlier purchases of Ethereum and Cardano laid the groundwork for Reliance's digital asset treasury strategy, and today's purchase of Bitcoin represents the next step in building a diversified portfolio of blockchain leaders," said Ezra Beyman, Chairman and CEO of Reliance Global Group.

The company cited Bitcoin's limited supply of 21 million coins, network security, liquidity, and institutional adoption as key factors in its decision. Reliance noted that the Bitcoin network processed approximately $19 trillion in transactions during 2024, more than double the prior year's total.

Reliance operates in insurance and financial services, with existing technology platforms including RELI Exchange and 5MinuteInsure.com. The company stated that expanding into Bitcoin provides diversification and serves as a hedge against inflation and currency risk.

The company emphasized its focus on regulatory compliance, transparent accounting, and secure custody for its digital asset strategy. Information is based on a press release statement from the company.

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