Blockchain Technology Consensus Solutions (Btcs)a nasdaq -noted company with an Ethereum (Eth) Treasury strategy rose over 100% on Tuesday at a $ 100 million financing plan to acquire more ETH for its balance.
The company aims to utilize traditional and decentralized economic (Defi) Capital markets for the capital increase. It plans to spend an existing $ 250 million on the market
Offers to sell equity, a convertible debt arrangement with ATW partners and borrow stableecoins on Defi Lending Protocol Aave Aave.
“We believe that Ethereum has a significant growth potential and is central to future digital financial infrastructure,” Charles Allen CEO said in a statement. “Our approach to capital formation has been – and continues to be – designed to minimize dilution, maximize flexibility and adapt to our obligation to healthy financial management to protect our shareholders.”
Public companies with crypto -tax strategies are all rage on Wall Street, after the Playbook of Michael Saylor’s strategy, the biggest company’s Bitcoin
Proprietor of the World. The trend is also extended to Ethereum, with companies like Sharplink Gaming (Sbet)Bitmine -Sinking (BMNR)and bit digital (BTBT) Advertising plans to acquire and keep ETH as a Treasury asset and also participate in the network’s operating avalanches.
BTCS was a pioneer for this trend well before others have jumped on the bandwagon: It has served as a blockchain company since 2014 and began to focus on Ethereum in 2021, buy ETH and operating Validators. The company had 14,600 ETH from June, worth about $ 38 million at current prices.
Read more: Tom Lee’s Bitmine Waves 3,000% Since ETH Treasury Strategy, but Sharplinks Plunge guarantees caution
