“The manufacturer of electric batteries and components Solidion Technology has announced the conversion of part of its cash reserves into Bitcoin. In the future, the company plans to allocate 60% of surplus funds, all interest income from the money market and part of the capital raised in the future to the purchase of the first cryptocurrency. Solidion argues that Bitcoin is an attractive investment that will help protect against inflation. “We strongly believe in the transformative potential of Bitcoin for the financial system […]”, — write: businessua.com.ua
The manufacturer of electric batteries and components Solidion Technology has announced the conversion of part of its cash reserves into Bitcoin.
In the future, the company plans to direct for the purchase of the first cryptocurrency, 60% of surplus funds, all interest income from the money market and part of the capital raised in the future.
Solidion argues that Bitcoin is an attractive investment that will help protect against inflation.
“We strongly believe in the transformative potential of Bitcoin for the financial system and are considering [його] as a reliable means of savings and an attractive investment,” he noted CFO Solidion Vlad Prantsevich.
He added that with the launch of the Bitcoin ETF, the first steps towards institutional adoption have already been taken. At the next stage, the first cryptocurrency will become an internationally recognized reserve asset.
Amid the announcement, Solidion shares rose 45% in the premarket compared to the previous trading day, from $0.35 to $0.51.
We will remind, on November 12, the AI company Genius Group announced bitcoin as its main treasury asset.
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