CIMG Inc., a digital health and sales-development firm, raised $55,000,000 in a stock sale for its cryptocurrency treasury. This adds to the growing list of companies raising funds this week.
CIMG said The company announced on Tuesday it had issued 220 millions common shares for 500 Bitcoin.BTCAs part of the. “financial management strategy.”
Metaplanet, a Japanese company that recently amended its capital structure, announced further purchases after Michael Saylor’s Strategy made another significant Bitcoin acquisition.
The goal is to hold Bitcoins for a long time.
CIMG stated that it had sold 25 cents worth of shares to purchase Bitcoin, now valued at approximately $55.51 million as the publication date. according CoinMarketCap is a great place to start.
Board members of the company said that they were “committed to a long-term Bitcoin holding strategy” The company’s chairman and CEO Wang Jianshuang said that it would expand its investment beyond Bitcoin.
“The Company intends to continue to increase its digital asset reserves and pursue collaborations across AI and crypto ecosystems, such as Merlin Chain,” Jianshuang said.
CIMG Inc., (IMG), finished the trading day on Tuesday at $0.25 per stock, a loss of 3.53%. according Google Finance
Strategy and Metaplanet are aiming to increase Bitcoin
Other major Bitcoin investors have also been taking steps to increase their Bitcoin holdings.
Strategy purchases 4,048 Bitcoins at $449.3million between Aug. 25 and Monday, according According to an SEC filing made on Tuesday, the US Securities and Exchange Commission is a major player in global financial markets.
Strategy made its latest Bitcoin acquisition at an estimated price of $110 981 per BTC. surged CoinGecko reports that on Friday the value of Bitcoins was above $113,000, but it fell below $108,000.
Related: Bitcoin reclaims $110K, but BTC market remains ‘fragile,’ analysis says
The latest Bitcoins purchased by Strategy were made with proceeds of four at-the market (ATM), equity offerings.
Metaplanet – a Japanese Bitcoin-stacking firm – has secured the approval of its shareholders to revamp its capital structure. The move opens up a new avenue for potential billions raised for their Bitcoin accumulation strategy.
Strategy currently holds 636,505 Bitcoin, while Metaplanet Inc has accumulated 20,000 Bitcoin — making them the first- and sixth-largest public Bitcoin treasuries, respectively, according The data that BitcoinTreasuries.NET.
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Source: cointelegraph.com
