What to Know
- Reitar Logtech, based in Hong Kong, is targeting a substantial $1.5B Bitcoin acquisition, aiming to enhance its financial flexibility and accelerate logistics technology growth across Asia.
- VivoPower has formed an exclusive partnership with BitGo to acquire and securely hold $100M in XRP, marking a strategic shift toward decentralized finance.
Reitar Logtech’s Bitcoin Acquisition Plans
Reitar Logtech Holdings Ltd. has announced a significant plan to acquire $1.5 billion in Bitcoin through a treasury diversification effort aimed at enhancing financial resilience and promoting logistics technology expansion.
This initiative, referred to as the BTC Program, aims to secure up to 15,000 BTC from institutional and high-net-worth investors in exchange for company shares, dictated by average Bitcoin and stock market valuations. The objective is to solidify Reitar’s balance sheet and allow for increased flexibility in investments in acquisitions and digital infrastructure, particularly in burgeoning Asian markets.
Management believes that this approach will mitigate traditional asset risk exposure while supporting long-term goals for innovation in global logistics. Dale Shen, Chairman and CEO, stated that the move toward integrating digital assets into Reitar’s financial blueprint is a pivotal step toward a more resilient and adaptable corporate treasury, further fostering technological advancements and future-proofing the company’s global operations.
VivoPower’s Strategic Partnership with BitGo
VivoPower International PLC has entered into a strategic collaboration with BitGo to facilitate a $100 million XRP acquisition as part of an extensive digital asset treasury strategy. They will leverage BitGo’s round-the-clock Over-The-Counter (OTC) trading desk alongside their advanced custody platform to securely purchase and store XRP tokens.
This action follows VivoPower’s recent $121 million capital raise and their shift toward decentralized finance solutions. Kevin Chin, Executive Chairman and CEO, noted the importance of BitGo’s institutional-grade infrastructure in managing and protecting the company’s digital asset holdings. Mike Belshe, CEO of BitGo, praised VivoPower’s entry into the crypto arena as an indicator of increasing institutional interest in the digital currency sector. The partnership highlights BitGo’s essential role as both a trusted custodian and prominent liquidity partner for large-scale cryptocurrency transactions.
