Blockchain technology consensus solutions (Btcs)A company listed in Nasdaq with an Ethereum (Eth) The treasury strategy increased more than 100% on Tuesday on a financing plan of $ 100 million to acquire more ETH for its balance sheet.
The company aims to exploit traditional and decentralized finances (Challenge) Capital markets for capital increase. It plans to use an existing market of $ 250 million
Offering to sell equity, a convertible debt arrangement with Atw Partners and borrow floors on the Defi loan protocol Aave.
“We believe that Ethereum has significant growth potential and is at the heart of the future digital financial infrastructure,” CEO Charles Allen said in a statement. “Our approach to capital training has been – and continues to be – designed to minimize dilution, maximize flexibility and align with our commitment to good financial management for the protection of our shareholders.”
Public companies with Crypto cash strategies are all the rage at Wall Street, following the game of the strategy of Michael Saylor, the biggest corporate bitcoin
holder in the world. The trend has also extended to Ethereum, with companies like Sharplink Gaming (Sbet)Bitmine immersion (BMNR)and a bit digital (BTBT) Announce its intention to acquire and hold ETH as an asset of the Treasury and also participate in the Operational Validators of the Network.
BTCS was a pioneer of this trend long before the others jumped on the train: it has been operating as a blockchain company since 2014 and began to concentrate on Ethereum in 2021, to buy ETH and to operating validators. The company held 14,600 ETH in June, worth around $ 38 million at current prices.
Read more: Bitmin by Tom Lee has increased by 3,000% since the ETH treasure strategy, but Sharplink’s dive guarantees prudence
