Goldman Lampe Private Bank has purchased €120 million (roughly $137 million) worth of Bitcoin, the UAE-based institution announced Monday, timing the buy to coincide with a recent pullback in cryptocurrency markets.
The Ras al Khaimah-headquartered bank said the acquisition strengthens its institutional Bitcoin holdings and reflects its conviction in digital assets as a long-term store of value. The move positions Goldman Lampe as one of the more aggressive institutional buyers to act on the current market downturn.
“Bitcoin continues to demonstrate remarkable resilience as a store of value and strategic asset,” said Abdullah Hamad Al Shamsi, Chairman of the Board. “By capitalizing on this market dip, we are not only enhancing our institutional holdings but also reaffirming our leadership in bridging traditional private banking with cryptocurrency solutions.”
Goldman Lampe did not disclose the exact number of Bitcoin acquired, the price at which the purchase was executed, or the bank’s total Bitcoin holdings to date.
Founded in 1934 and regulated in the UAE, Goldman Lampe markets itself as the first bank in the world to offer crypto term deposits — a product that lets high-net-worth clients earn yields on digital asset holdings within a regulated framework. The bank also offers gold bullion trading and private wealth management services.
The Bitcoin purchase adds to a broader thesis the bank has pushed publicly: that digital assets belong inside institutional portfolios, not alongside them as a speculative side bet. The bank’s term deposit product, it says, gives clients structured, compliant exposure to crypto in a format familiar to traditional wealth management clients.
The acquisition comes as institutional Bitcoin buying has become a more common playbook. Companies including MicroStrategy and a range of sovereign wealth vehicles have made similar dip-buying moves in recent cycles.
Bitcoin price action
Bitcoin entered June 2026 trading near $73,674 and has since fallen to around $58,500 as of this morning— a decline of roughly 18% for the month. The drawdown has been driven by ETF outflows, a stronger U.S. dollar, elevated interest rate expectations, and rotation into AI equities.
Technically, Bitcoin is trading below both its 20-month and 50-month exponential moving averages, signals that analysts associate with bearish intermediate-term pressure. The 50-day moving average sits above the current price, a potential resistance level if BTC attempts a recovery. The 100-month EMA, however, remains below the current price, leaving the long-term structural trend intact.
Bitcoin is down roughly $48,000 from its price one year ago, though that comparison reflects what was a period of peak pricing in mid-2025.
Goldman Lampe’s purchase puts its acquisition cost somewhere in the current trading range, with the bank betting that the dip represents an entry point rather than the beginning of a longer decline.
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.