Crypto firm KR1 cashes in USD $360K worth of Cosmos (ATOM) tokens

Cosmos has appreciated nicely in recent weeks, giving KR1 an opportunity to sell a portion of their holdings.

Crypto and blockchain asset investment firm, KR1, announced today an update on its portfolio holdings. The company informed that it has sold 70,079 tokens from the Cosmos Network (ATOM) project at an average price of USD $5.14 per token generating proceeds of USD $360,605.

These ATOM tokens were acquired at an average price of USD $0.10 per ATOM token during the public ICO in early 2017. Cosmos was one of the KR1’s earliest investments and it is has proved to be one of its most successful to date.

In addition to selling, KR1 said it has generated a further 7,008 ATOM tokens from staking activities over the last four weeks, which it has sold at a price of USD $6.93 per token. Since the Cosmos Network launch in March 2019, KR1 has generated a total of over USD $122,250 from staking yields and the company continues to hold a large majority of its ATOM position.

“We are delighted to provide investors with the news of this impressive return from one of the most exciting investments in our growing portfolio. The ATOM token has appreciated significantly in value over the last few weeks demonstrating that Cosmos is fast becoming a widely adopted blockchain protocol. The returns generated from our partial ATOM token disposals and staking activities will boost our asset base and enhance our investment capabilities even further. At the same time, KR1 retains a significant number of tokens which will allow the company to passively generate revenues from staking activities. We believe that this is the correct strategy to pursue in the long-term.”

“As we continue to build an ever-growing portfolio of blockchain and cryptocurrency investments, we remain one of the few publicly listed companies in the world that is invested in staking tokens and one of only a few investment companies that took part in the initial sale of Cosmos tokens, along with investors such as Polychain, Dokia Capital and BKCM.”

– George McDonaugh, Chief Executive Officer of KR1

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