Mercurity Fintech to raise $800M for Bitcoin treasury, eyes 7,400 BTC

23 hours ago

Mercurity Fintech Holding, a Nasdaq-listed integer fintech radical gathering blockchain-based outgo infrastructure, volition rise $800 cardinal to found a Bitcoin treasury reserve, arsenic much corporations are embracing the world’s archetypal cryptocurrency.

The fintech institution plans to rise $800 cardinal to found a “long-term” Bitcoin (BTC) treasury reserve, which volition beryllium integrated successful its integer reserve model done blockchain-native custody, staking integrations and tokenized treasury absorption services.

Mercurity volition besides modulation a information of its treasury into a “yield-generating, blockchain-aligned reserve operation that reinforces long-duration plus vulnerability and equilibrium expanse resilience,” the steadfast shared successful a Wednesday announcement.

Through the constitution of its firm Bitcoin treasury, the institution aims to presumption itself to go a “key subordinate successful the evolving integer fiscal ecosystem,” said Shi Qiu, CEO of Mercurity Fintech, adding:

"We're gathering this Bitcoin treasury reserve based connected our content that Bitcoin volition go an indispensable constituent of the aboriginal fiscal infrastructure.”

The $800 cardinal superior rise would alteration the steadfast to acquisition astir 7,433 BTC astatine a existent terms of much than $107,600.

This would marque Mercurity the world’s 11th largest firm Bitcoin holder aft Galaxy Digital Holdings, surpassing GameStop’s 4,710 BTC, Bitbo information shows.

Corporate Bitcoin adoption connected the rise, 223 companies clasp BTC

Signaling increasing organization interest, astatine slightest 223 nationalist companies are present holding Bitcoin arsenic portion of their firm treasuries, up from just 124 firms connected June 5, Cointelegraph reported.

Over 819,000 BTC, representing 3.9% of the full supply, is present held successful nationalist institution treasuries, according to information from BitcoinTreasuries.NET.

A semipermanent concern position is driving the question of firm Bitcoin adoption, a Binance Research spokesperson told Cointelegraph, adding:

“Corporate BTC adoption is driven by semipermanent equilibrium expanse strategy, treasury diversification and capital-raising activity.”

Altcoins are besides benefiting from increasing organization interest. Interactive Strength (TRNR), a Nasdaq-listed fittingness instrumentality manufacturer, announced plans to rise up to $500 cardinal to establish a Fetch.ai (FET) token treasury, Cointelegraph reported connected Wednesday