Bittensor Surges 9.85% as Synaptogenix Invests $10M in TAO

Bittensor's latest price was $420.00, up 9.847% in the last 24 hours. This surge in price reflects the growing interest and investment in the cryptocurrency, particularly from institutional players. Synaptogenix, Inc., a company listed on Nasdaq, has announced a significant investment plan in the cryptocurrency, focusing on TAO, the main token of the Bittensor network. The company aims to invest $10 million initially, with a long-term goal of holding $100 million in TAO tokens. This investment is guided by James Altucher, a well-known figure in the crypto and AI industries, who emphasizes the potential for revenue from TAO staking and the future value of the token. The company's shareholders are expected to benefit from the current revenue and future value appreciation of the token. The decision to adopt this strategy was driven by the company's management and board, who began researching options to create more value from their stored money at the end of 2024. They discovered that digital assets are increasingly being used by various companies in their operations, leading Synaptogenix to join this trend. The company believes that TAO is a unique choice due to its connection to the rapidly growing AI sector and its limited supply of 21 million tokens. Synaptogenix has also secured $5.5 million in funding, with Altucher providing financial support. The deal includes preferred stock and warrants and is expected to close on June 10, 2025, once approved. The company plans to rebrand and change its ticker symbol to reflect its new goals and is currently developing a new website, which will be launched in the coming months.

Bittensor's ecosystem continues to grow, with the network reaching a new milestone of 118 active subnets as of June 2025. This expansion indicates significant developer engagement and deepening ecosystem activity, even amidst broader market uncertainty. Data from Taostats.io confirms that increasing subnet participation correlates strongly with technical adoption, as more AI researchers and machine learning engineers contribute to Bittensor's decentralized intelligence marketplace. This growth reinforces Bittensor's role in advancing Web3 AI innovation. Beyond ecosystem growth, institutional interest in Bittensor is also on the rise. Nasdaq-listed Oblong Inc. has announced plans to raise $7.5 million through a private placement specifically aimed at acquiring TAO tokens. This direct investment by a publicly traded company adds legitimacy to Bittensor's protocol and reflects a broader shift in corporate attitudes toward blockchain assets linked to cutting-edge technologies. Oblong's move, along with another private placement from Synaptogenic Inc., underscores the increasing intersection between traditional finance and blockchain innovation, positioning TAO at the forefront of AI infrastructure and decentralized systems. Additionally, BitGo has recently added support for institutional TAO staking through a new partnership with Yuma Group, allowing clients to stake TAO and access Bittensor's decentralized AI network to build, train, and validate AI models.