In short
- Reitar Logtech, based in Hong Kong Kong, has said it wants to buy 15,000 BTC.
- The plan is to create a Bitcoin Treasury, said the Nasdaq-Genter company.
- Reitar is the latest listed company that announces such plans.
Nasdaq Listed Reitar Logtech is planning to buy $ 1.5 billion in Bitcoin, according to a Monday US Securities and Exchange Commission Department.
The (Ritr), based in Hong Kong said it was aimed to buy 15,000 BTC.
“The BTC program will free up the road for the company to enter into logistics real estate projects that can in the future involve digital assets by setting up a reserve of digital assets through this initiative and setting up the necessary internal organization and technical infrastructure for managing such digital assets,” said the company in the 6-K SEC document.
It added that the “potential initiative” will enable it to expand “to new markets”. Reitar Logtech did not respond immediately Decryptask.
Reitar Logtech, which offers a series of services for logistics operators and logistics real estate Invessstors, joins a growing list of companies that want to provide shareholders with exposure to Bitcoin. They followed the path Strategy– Formerly MicroStrategy – which in 2020 turned out to be software development to become the world’s largest company holder of Bitcoin.
Strategy shares have risen more than 2,800% during this period. The company on Monday announced The latest Bitcoin purchase of around 705 Bitcoin worth around $ 75 billion based on the current price. It now has around 581,000 BTC worth $ 60.4 billion.
Other companies on the Nasdaq have also been purchased, with health care company Cosmos Health (Nasdaq: Cosm), Auto firm Work sport (Nasdaq: WKSP) and Energy Storage Company KULR Technology Group (Nasdaq: Kurl) All recently announced Crypto Buys.
And in April, Crypto and Financial Services Giants Tether, Bitfinex, Cantor Fitzgerald and Softbank Group announced That they would create twenty -one, a listed Bitcoin Treasury Company with plans to acquire 42,000 BTC – or worth around $ 4.5 billion.
Bitcoin was recently traded at around $ 104,500, in the last 24 hours somewhat fallen according to Crypto data provider Coingecko. It is up Almost 11% years to date and reached a new high point of $ 111,814 in the midst of a broader revival in cryptom markets in May.
Published by James Rubin
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