TAO Synergies Becomes Largest Public Holder of Bittensor Token With $10M Purchase

coindesk.com 21 July 2025 11:23, UTC

Altcoins

$TAO Synergies (TAOX), formerly a biotech firm Synaptogenix, said it purchased $10 million worth of Bittensor’s $TAO token, becoming the largest publicly traded holder of the cryptocurrency.

The New York-based company has acquired 29,899 $TAO tokens at an average price of $334 each, according a press release. It plans to stake the tokens within the Bittensor network, which rewards participants for contributing to the development of AI models.

The company’s bet on $TAO, rather than on other cryptocurrencies more popular for corporate treasuries, rests on its “expected continued growth and expansion of decentralized AI,” according to the company’s executive chairman Joshua Silverman.

Bitcoin

$BTC$118,610.75

and ether ($ETH) are the most commonly chosen for corporate treasuries. $BTC held by publicly-traded firms has skyrocketed over the last few months to now stand at 860,766 according to BitcoinTreasuries. Similarly, $ETH held by corporate treasuries and DAOs is now taking off and has reached 1.8 million $ETH.

“Decentralized AI and $TAO remind me of the Internet in 1996,” said James Altucher, the company’s treasury strategist. “It’s still early, but growth is accelerating.”

TAOX shares closed up 7.55% in Friday’s trading session and moved up an additional $1.29% in after-hours trading to $10.24. $TAO went up 7% over the past week, but is down 2.5% in the last 24-hour period.