Norwegian company Green Minerals AS has announced plans to create a Bitcoin treasury and raise $1.2 billion for investments in cryptocurrency.
Bitcoin Treasury Strategy
Green Minerals announced its intention to create a Bitcoin treasury as part of its blockchain implementation strategy. This decision is aimed at diversifying the company's investments and reducing risks associated with fiat currencies. Executive chair Ståle Rodahl noted that Bitcoin is an 'attractive alternative to traditional fiat currencies.'
Capitalization Enhancement Plans
With its partners, Green Minerals plans to raise up to $1.2 billion to strengthen its Bitcoin treasury. The first Bitcoin purchase is expected to occur in the coming days. At the current price of approximately $106,500, the company could acquire around 11,255 Bitcoins. Green Minerals also announced plans to introduce a key performance indicator that will track the Bitcoin value attributable to each share.
Stock Market After Announcement
After announcing plans for the Bitcoin treasury, Green Minerals' shares saw a sharp rise, gaining 300% on Monday to reach 68 euro cents. However, the following day, the stock price fell over 34% to 44 euro cents. This price change, as reported by Google Finance, reflects the volatility of stock prices in response to cryptocurrency news.
Green Minerals AS continues to actively develop its blockchain and cryptocurrency strategy, which may play a significant role in the company's future and the stability of its financial assets.
