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KULR Secures $20 Million Credit Line for Bitcoin Strategy

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by Giorgi Kostiuk

3 hours ago

KULR Technology Group Inc. has announced securing a $20 million credit line from Coinbase to support its Bitcoin accumulation strategy.

Securing Credit from Coinbase

KULR Technology Group has entered into a $20 million credit facility with Coinbase Credit. This move highlights the company’s strategic commitment to Bitcoin as a treasury asset.

Bitcoin Accumulation Strategy

According to CEO Michael Mo, this credit instrument will allow the company to access non-dilutive capital for Bitcoin accumulation. He noted that this is KULR's first Bitcoin-backed credit facility.

This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate. It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.Michael Mo

Market Impact and Future Steps

The credit line will help KULR strengthen its cash reserves through cryptocurrency-backed financing. This aligns with a growing trend among large public companies like MicroStrategy and Tesla, which also utilize Bitcoin as an asset.

Securing the credit from Coinbase opens new opportunities for KULR in asset management and underscores the growing recognition of Bitcoin as a serious financial instrument among companies.

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