Ah, dear reader, gather ’round as we delve into the curious case of Mercurity Fintech Holding, a Nasdaq-listed marvel of digital finance, which has decided to embark on a grand adventure to raise a staggering $800 million! Yes, you heard it right—$800 million! All in the name of establishing a Bitcoin treasury reserve, as if the world’s first cryptocurrency were a rare vintage wine to be hoarded in a cellar. 🍷
With the fervor of a man chasing a runaway cabbage, this fintech company plans to integrate its newfound treasure into a “long-term” Bitcoin (BTC) treasury reserve. They speak of blockchain-native custody and tokenized treasury management services as if they were the latest fashion trends in St. Petersburg! Who knew finance could be so chic?
But wait, there’s more! Mercurity intends to transform a portion of its treasury into a “yield-generating, blockchain-aligned reserve structure.” One can only imagine the boardroom discussions, filled with grandiose visions of balance sheet resilience and long-duration asset exposure. It’s like watching a group of babushkas knitting a sweater for a winter that may never come! 🧶
In a moment of sheer audacity, Shi Qiu, the CEO of Mercurity Fintech, proclaimed,
“We’re building this Bitcoin treasury reserve based on our belief that Bitcoin will become an essential component of the future financial infrastructure.”
Ah, the optimism! One might think he’s predicting the return of the Tsar himself!
With this $800 million capital raise, the firm could potentially acquire about 7,433 BTC, assuming the price doesn’t skyrocket to the moon first! At a current price of more than $107,600, it’s a wonder they don’t need a treasure map to find their way through the cryptocurrency jungle. 🗺️
Should they succeed, Mercurity would ascend to the lofty heights of the world’s 11th largest corporate Bitcoin holder, surpassing even the illustrious GameStop, which holds a mere 4,710 BTC. Oh, the irony! Who would have thought that a company known for selling video games would be outpaced by a fintech firm? 🎮
Corporate Bitcoin adoption on the rise, 223 companies hold BTC
In a twist that would make even Gogol chuckle, at least 223 public companies are now clutching Bitcoin as if it were a beloved pet, up from just 124 firms a mere few months ago. CryptoMoon reports this surge with the glee of a child discovering a hidden stash of sweets! 🍬
Over 819,000 BTC, representing 3.9% of the total supply, now resides in the treasuries of these public companies, according to the wise sages at BitcoinTreasuries.NET. It seems that corporate Bitcoin adoption is the new black, driven by long-term balance sheet strategies and treasury diversification. Who knew finance could be so fashionable?
And let us not forget the altcoins, which are also basking in the glow of institutional interest. Interactive Strength (TRNR), a Nasdaq-listed fitness equipment manufacturer, has announced plans to raise up to $500 million to establish a Fetch.ai (FET) token treasury. It’s a veritable gold rush, dear reader! 🏃♂️💨
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2025-06-12 14:43