Content platform OnlyFans announced that it has purchased Ethereum (ETH) for $20 million in recent years.
OnlyFans parent company Fenix International has announced that it has been close to cryptocurrencies between 2021 and 2022. The company has purchased a total of $19.9 million worth of Ethereum in these two years. The popularity and growing reputation of OnlyFans has brought crypto buying into the spotlight. However, the company suffered a loss of $8.5 million from this acquisition in previous years.
OnlyFans’ parent company has shown interest in crypto in the past years!
OnlyFans’ parent company Fenix International has also become a crypto investor. The company recently reported that it has purchased approximately $19.9 million worth of Ethereum (ETH), in its financial filing in the UK. However, the company suffered a loss of $8.5 million as it coincided with the drop in the period when FTX went bankrupt. As of the end of November 2022, the company’s ETH value decreased to 11.4 million dollars.
The past years, when Fenix International bought crypto, was the period when institutions showed the greatest interest. Many corporate companies have shown serious interest in Bitcoin in particular. However, the later eruption of the Terra crisis and the bankruptcy of FTX led to corporate withdrawal. These days, there is talk of spot Bitcoin ETFs to get institutional investors back into crypto.
Although the company has not been lucky in crypto, it has experienced very strong growth in revenue. Fenix International’s revenue rose from $4.8 billion in 2021 to $5.6 billion in 2022, an increase of 16.6 percent.
On the other hand, there was a 47 percent increase in the number of content creators of the parent company OnlyFans. The number of subscribers increased by 27 percent.
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