NameSilo Sells $800,000 In BTC Ahead Of Sell-Off

[image credit : NameSilo]

NameSilo, a domain name provider that accepts bitcoin as a payment method, has offloaded over $800,000 worth of the flagship cryptocurrency last month, ahead of the sell-off that nearly cut BTC’s price in half.

According to a press release published by the firm, it sold 84.29 BTC at the rate of $9,950 to get over $820,000 in net proceeds from the sale. CryptoCompare data shows that at current exchange rates, the cryptocurrency sold would be worth less than $400,00, as one BTC is trading for little under $4,600.

In the press release, CEO Kristaps Ronka said, “NameSilo was one of the first domain registrars to accept Bitcoin as a payment method. We strive to accommodate our customers by allowing them the flexibility on how they transact with us. Giving clients the option to use bitcoin means we accumulate bitcoin over time and accordingly from time to time will convert our bitcoin to cash.”

NameSilo is a low-cost provider of domain name registration and management services, and is an ICANN-accredited registrar. NameSilo is a high growth registrar with nearly 1.5 million domains under management, and over 85,000 customers from approximately 160 countries.

According to RegistrarOwl.com, which provides domain registrar industry statistics from ICANN, NameSilo is the 6th-fastest growing registrar in the world based on percentage growth of new registrations, and 6th-fastest growing registrar in the world when based on net new registrations, behind household names such as Google, GoDaddy and Alibaba.

 

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