Goldman Lampe Private Bank buys about EUR120 million of Bitcoin on dip
The Ras Al Khaimah-based private bank said the purchase bolsters its institutional Bitcoin holdings and reflects its push to pair traditional private banking services with regulated crypto offerings.
Goldman Lampe Private Bank said on June 30 that it bought about EUR120 million, or roughly $137 million, worth of Bitcoin during the recent crypto market pullback, adding to its institutional holdings. The Ras Al Khaimah, UAE-based bank said the move reflects its view of Bitcoin as a long-term store of value and strategic asset, and aligns with its broader push to integrate digital assets into traditional private banking. Chairman of the Board Abdullah Hamad Al Shamsi said the bank used the market dip to enhance its Bitcoin position and reinforce its role in linking private banking with cryptocurrency solutions. Goldman Lampe did not disclose how many Bitcoin it bought, the execution price, or its total Bitcoin holdings. The bank, founded in 1934 and regulated in the UAE, says it offers crypto term deposits for high-net-worth clients alongside gold bullion trading and private wealth management services. The purchase comes amid a broader pattern of institutional dip-buying in Bitcoin as some professional investors treat market weakness as a chance to build longer-term exposure.
- crypto term deposits: Banking products that let clients place digital assets in a deposit-like structure designed to generate yield.
- institutional holdings: Assets owned by banks, funds, and other large professional investors.
- store of value: An asset investors expect to preserve purchasing power over time.