BTC Digital Invests in Ethereum, Positions Itself as a Financial Innovator
BTC Digital invests $1 million in Ethereum, labeling it their 'digital gold' as they pivot towards decentralized finance.
Bitcoin mining company BTC Digital (BTCT) has allocated $1 million to invest in Ethereum (ETH), referring to it as their new “digital gold.”
Key Highlights:
- This investment aligns with BTCT’s strategy to engage in decentralized finance, stablecoin issuance, and asset tokenization.
- As stated by CEO Siguang Peng, Ethereum is becoming a critical part of on-chain USD settlement and value transfer.
Ethereum Investment
“By securing an initial $1 million ETH reserve today—and with plans to scale that position—we are proactively positioning ourselves for decentralized finance, stablecoin issuance, and asset tokenization,” said Peng.
BTC Digital now joins a cohort of publicly traded bitcoin miners shifting to ether reserves, with many analysts noting significant shifts in market strategy as observations about ether treasuries reveal over 1.34 million ETH currently held publicly. For equity, earlier this month, Bit Digital (BTBT) transitioned its complete treasury from Bitcoin to Ethereum, experiencing a notable stock fluctuation in response.
For further insights, check the full article on CoinDesk.
