UK-based real estate firm, Murano Global Investments, is set to establish a Bitcoin treasury with a $500 million backing. The company has taken a significant step into the crypto space, purchasing bitcoin. Murano’s resolve to venture into Bitcoin is driven by its potential for long-term growth and diversification.
Murano to Establish a Bitcoin Treasury
Murano Global Investments has demonstrated its commitment to establishing a Bitcoin treasury by purchasing 21 Bitcoins just recently. The company’s $500 million Standby Equity Purchase Agreement (SEPA) with Yorkville will enable it to acquire more Bitcoins in the future.
The firm sees its Bitcoin treasury initiative as a strategic move to diversify its investments and potentially benefit from the crypto’s long-term growth. With a strong financial foundation, Murano is well-positioned to weather the tide of volatility associated with the digital market. The company’s resolve to establish a Bitcoin treasury is a testament to its innovative approach to investment.
The Unending Rush for Bitcoin
Murano’s confidence may have been informed by recent examples of larger firms throwing in everything to secure the choice coin. Earlier today, many such firms proved how highly esteemed they take Bitcoin.
Metaplanet, for instance, acquired 2,205 BTC at an average price of $108,237 per BTC, totaling approximately $238.7 million. The purchase, funded partly by a zero-interest bond, brings its total to 15,555 BTC, valued at $1.69 billion.
The Blockchain Group, a leading cryptocurrency investment firm, has followed suit, confirming that it has also acquired 116 Bitcoin (BTC) for approximately $11.5 million, thereby increasing its total holdings to 1,904 BTC.
Similarly, The Smarter Web, a technology-focused investment group, also bought 226.42 BTC. These strategic moves reflect the growing institutional interest in Bitcoin, which has experienced notable price increases in recent months amid rising adoption and market optimism.
Meanwhile, while some firms frantically strive to establish a foothold with a Bitcoin treasury, others find that their crypto aspirations lie elsewhere. For example, Bitcoin mining firm Bit Digital, Inc., recently announced a $150 million public offering to fund its transition from Bitcoin mining to Ethereum staking and treasury asset management.
The New York-based company, once a prominent Bitcoin miner, is placing a significant bet on Ethereum’s proof-of-stake model, aiming to capitalize on its steady yields and lower operational costs.
