Mercurity Fintech Holding, a Nasdaq-listed company, announced plans to raise $800 million to establish a Bitcoin reserve. This decision comes amid growing interest in the first cryptocurrency.
Mercurity Fintech's Plans for Bitcoin Reserves
Mercurity Fintech plans to raise $800 million to create a long-term Bitcoin (BTC) reserve. This reserve will be integrated into their digital infrastructure through native custody, staking, and tokenized treasury management services. Mercurity Fintech CEO Shi Qiu stated, "We're building this Bitcoin treasury reserve based on our belief that Bitcoin will become an essential component of the future financial infrastructure."
Rise of Corporate Bitcoin Reserves
There is a growing interest from institutional investors in Bitcoin, with at least 223 public companies reported to hold BTC in their reserves, up from 124 companies earlier in June. These corporates now hold over 819,000 BTC, accounting for 3.9% of the total supply. Long-term investment strategies are driving this trend, according to a Binance Research representative.
Interest in Altcoins and Future Trends
Institutions are also paying attention to altcoins. For instance, Interactive Strength announced plans to raise up to $500 million to establish a Fetch.ai (FET) token treasury, opening new opportunities for investment activity in the crypto industry.
Thus, Mercurity Fintech's efforts to establish a Bitcoin reserve highlight the growing corporate interest in cryptocurrencies, which may reshape the financial landscape in the future.
