CIMG Inc., a digital health and sales development firm, announced a $55 million funding through a share sale to expand its crypto reserves, reflecting a broader trend in the industry.
Long-term Bitcoin Holding Strategy
CIMG said it issued 220 million shares at $0.25 each in exchange for 500 Bitcoin. These actions are part of their financial management strategy.
The company stressed its commitment to a long-term Bitcoin holding strategy to create a solid value foundation for investors. Chairman and CEO Wang Jianshuang noted that the company does not plan to limit its exposure solely to Bitcoin.
Moves by Other Major Bitcoin Holders
Other significant players in the market are also increasing their Bitcoin stockpiles. For instance, Strategy, led by Michael Saylor, acquired 4048 Bitcoin for $449.3 million. This purchase was made at an average price of $110,981 per Bitcoin.
Japan’s Metaplanet is also moving towards increasing its Bitcoin reserves after receiving shareholder approval to revise its capital structure.
Bitcoin Market Dynamics
Recently, the Bitcoin market has shown significant volatility. Bitcoin briefly surged above $113,000 and then dropped to below $108,000. Currently, Strategy holds 636,505 Bitcoin, making it the largest public holder, while Metaplanet has accumulated 20,000 Bitcoin, ranking sixth in the market.
CIMG Inc. continues to expand its crypto reserves, joining numerous participants seeking to leverage Bitcoin's potential. Market dynamics suggest that the trend of increasing Bitcoin supplies is likely to continue.
