Another NASDAQ-listed company, Greenpro Capital, plans to acquire Bitcoin through its subsidiary CryptoSX.
Greenpro Capital believes in mass Bitcoin adoption
IN statement the company said it believed in the ongoing massive adoption of Bitcoin by banks, hedge funds, and insurance companies. In addition, she added that she supports BTC as a reliable store of value.
CEO of CK Lee instructed Greenpro Capital’s investment bankers to increase their debt to $ 100 million in the first quarter of 2021. However, in addition to getting into debt, they will also buy digital gold from their cash reserves.
By strategically managing their balance sheet and Bitcoin fund – part of the cryptocurrency strategy – they can create “significant value” for the company in the future.
Besides Bitcoin, Greenpro Capital also believes in other major digital currencies. According to the company, cryptocurrencies like Ethereum offer a chance for better profits while helping to maintain value. Greenpro Capital believes ETH is a better alternative than having cash.
Public companies invest in Bitcoin
According to statistics from Bitcoin Treasuries, more and more public companies pour their funds into the Bitcoin market. The largest institutional investor investing its reserves in BTC is MicroStrategy. The company under the leadership of Michael Saylor owns 70,470 BTC.
A few weeks ago, the company announced another $ 650 million purchase. In this way, it increased its total value to over 1.9 billion dollars. Microstrategy made its first investment in BTC in August, which means that it earned over USD 850 million in just a few months.
Saylor has repeatedly stressed that Bitcoin is a great storehouse of value, and its network is the new financial layer that will drive online commerce in the years to come.
In a recent tweet, he appeared to urge market leaders to change their investment strategy, explaining that you cannot pursue a corporate vision by investing capital in a losing fiat currency.
#Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.
– Michael Saylor (@michael_saylor) September 18, 2020