Reitar Logtech Holdings Ltd. a Hong Kong based company operating in the real estate industry and technology for logistics, announced official plans to acquire up to $1.55 billion of assets. Bitcoin. This move was revealed in an June 2 filing The U.S. Securities and Exchange Commission is a regulatory body that oversees the U.S. financial markets.
The filing states that the acquisition of strategic Bitcoins is meant to boost Reitar’s reserves and accelerate the global expansion of the logistics technology infrastructure. Reitar Logtech’s announcement is in line with the growing trend of companies around the world turning to Bitcoin for their financial needs. reserve asset.
Reitar Logtech’s financial strategy includes Bitcoin to help it grow beyond the traditional fixed-income and fiat currency products. The company hopes to take advantage of Bitcoin’s growth by adopting a BTC strategic reserve. liquidityMarkets open 24 hours a day, 7 days a week, to protect against inflation over the long term and devaluation of currencies.
This is how the SEC filed describes this initiative: “Reitar Logtech Holdings Ltd. Announces Up to US$1.5 Billion Strategic Bitcoin (BTC) Acquisition to Bolster Treasury Reserves and Accelerate Global Logistics Technology Expansion.”
Kin Chung Chan (Director, Chairman and Chief Executive of Reitar Logtech) signed the disclosure, which affirmed the submission was made in accordance to the Securities Exchange Act of 1939.
Analysts believe that while the exact timing of this acquisition is not known, it could happen in stages to minimize market impact as well as align with corporate capital strategies. The purchase is not yet known if it will take place via custodians or structured investment vehicles.
This adoption highlights a trend of corporations incorporating Bitcoin into their balance sheet. Reitar is joining companies like StrategyBitcoin has been used by, not just for financial positions, but also as an asset to be held over the long term.
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Source: bitcoinmagazine.com
