TAO Synergies (TAOX) purchased $10 million worth of Bittensor’s TAO token, becoming the largest publicly traded holder. They acquired 29,899 TAO tokens at an average price of $334 each, planning to stake them in the Bittensor network for AI model development rewards.

The company’s executive chairman, Joshua Silverman, believes in TAO’s growth potential in decentralized AI, distinguishing it from more popular corporate treasuries like Bitcoin (BTC) and ether (ETH). Publicly-traded BTC holdings have surged to 860,766, while ETH reserves for corporate treasuries and DAOs have reached 1.8 million.

James Altucher, TAOX’s treasury strategist, compares decentralized AI and TAO to the Internet in 1996, seeing immense growth potential. TAOX shares closed up 7.55% in Friday’s trading and rose an additional $1.29% in after-hours trading to $10.24. TAO’s value increased by 7% over the past week, but fell by 2.5% in the last 24 hours.

Read more at Yahoo Finance: TAO Synergies Becomes Largest Public Holder of Bittensor Token With $10M Purchase