Mill City Ventures has made headlines by becoming the first public company to establish a corporate treasury by acquiring 76.3% of SUI tokens.
Acquisition of Tokens by Mill City Ventures
Mill City Ventures announced it has acquired about 76.3% of SUI tokens, successfully establishing a corporate treasury following $450 million in private placements. The company is launching a SUI Treasury Strategy after purchasing 76.3 million tokens at an average price of $3.6.
Market Reaction to the Investments
Mill City Ventures’ stock price experienced volatility following the news of investing $450 million in SUI. The stock dropped by 8% from a high of $7.78, falling back to $5.55 on the same day.
Future of Corporate Treasuries in Crypto
With growing interest in altcoins such as SUI, Mill City Ventures sets a new standard for corporate reserves. Institutional investors, including Galaxy and Pantera, show confidence in the Layer 1 capabilities of the token. However, questions remain about price stabilization.
By becoming the first public company with a corporate treasury in SUI, Mill City Ventures raises interest in new investing models and potential trends in the crypto market.
