Mercurity Fintech Holding, a Nasdaq-listed digital fintech group based on blockchain payment infrastructure, will raise $800 million to build Bitcoin Treasury bills as more and more companies embrace the world’s first cryptocurrency.
The fintech company plans to raise $800 million to build a “long-term” Bitcoin (BTC) fiscal reserve that will integrate into its digital reserve framework through local custody of blockchain, Stake Bate Bateking integration and tagged Treasury management services.
Mercurity will also transform part of its Treasury into “generating a yield, blockchain-consistent reserve structure that enhances long-term asset exposure and balance sheet resilience,” the company shared on Wednesday a Wednesday announcement.
By establishing the company’s Bitcoin Treasury Department, the company’s goal is to position itself as a “key player in the ever-evolving digital finance ecosystem”, said Shi Qiu, CEO of Mercurity Fintech.
“We are building this Bitcoin Treasury bill because we believe Bitcoin will become an important part of the financial infrastructure in the future.”
Related: Trump says Bitcoin approaches new high
The $800 million capital raising will allow the company to buy about 7,433 BTC for the current price of $107,600.
This will make Mercurity the 11th largest company in the world, Bitcoin holder Beyond GameStop 4,710 BTC, Bitbo Data display.
Related: “Apple should buy bitcoin,” Saller said.
Corporate Bitcoin adopts with rise, 223 companies hold BTC
Signaling growth in institutional interest, at least 223 listed companies now hold Bitcoin as part of the company’s treasury There are only 124 companies CoIntelegraph reported, June 5.
According to BitCoinReasuries.net, it now holds more than 819,000 BTC in the treasury of listed companies, accounting for 3.9% of the total supply.
A Binance research spokesperson told Cointelegraph, adding:
“The adoption of the company’s BTC is driven by long-term balance sheet strategy, treasury diversification and capital accumulation activities.”
AltCoins also benefit from growing institutional interests. Nasdaq-listed fitness equipment manufacturer Interactive Strength (TRNR) announces plans for upgrade Build $500 million fetch.ai(Fet)cointelegraph reported on Wednesday
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