Mercurity Fintech Holdings, Nasdaq listed digital fintech company building blockchain-based payments infrastructure, is raising $800m to set up a Bitcoin reserve treasury, with more and more businesses adopting the world’s first cryptocurrency.
This fintech firm is planning to raise 800 million dollars to set up a “long-term” Bitcoin (BTC), treasury reserves, will be integrated into its digital reserve framework by blockchain-native custodianship, integration of staking and tokenized Treasury management services.
Mercurity is also converting a portion its Treasury into an a “yield-generating, blockchain-aligned reserve structure that reinforces long-duration asset exposure and balance sheet resilience,” In a recent Wednesday, the company shared its experiences. announcement.
The company wants to be a leader in the Bitcoin industry by establishing a corporate Bitcoin Treasury. “key player in the evolving digital financial ecosystem,” Shi Qiu is the CEO of Mercurity Fintech.
“We’re building this Bitcoin treasury reserve based on our belief that Bitcoin will become an essential component of the future financial infrastructure.”
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The $800,000,000 capital increase would allow the company to purchase 7,433 BTC, at an average price of $107 600.
Mercurity is now the 11th-largest corporate Bitcoin investor in the world, after Galaxy Digital Holdings. surpassing GameStop’s 4,710 BTC, Bitbo Data shows
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Bitcoin adoption is increasing among companies: 223 firms now hold BTC
At least 223 companies now hold Bitcoin in their corporate Treasury, up from just 124 firms Cointelegraph released a story on the 5th of June.
Over 819,000 BTC, representing 3.9% of the total supply, is now held in public company treasuries, according to data from BitcoinTreasuries.NET.
Binance Research’s spokesperson, who spoke to Cointelegraph on behalf of the company, said that the adoption wave is driven by a long-term perspective.
“Corporate BTC adoption is driven by long-term balance sheet strategy, treasury diversification and capital-raising activity.”
Altcoins have also benefited from the increasing interest among institutions. Interactive Strength (TRNR), an Nasdaq listed fitness equipment manufacturer announced plans to raise as much as $500 million to establish a Fetch.ai (FETCointelegraph published a report on Wednesday about a token treasury.
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Source: cointelegraph.com
