In short
- Hong Kong-based Reitar Logtech has stated it desires to purchase 15,000 BTC.
- The plan is to create a Bitcoin treasury, the Nasdaq-listed firm stated.
- Reitar is the newest publicly-traded agency to announce such plans.
Nasdaq-listed Reitar Logtech is planning to purchase $1.5 billion value of Bitcoin, based on a Monday U.S. Securities and Change Fee submitting.
The Hong Kong-based (RITR) stated it was aiming to purchase 15,000 BTC.
“The BTC Program will pave the way in which for the corporate to have interaction in logistics actual property initiatives which can contain digital property sooner or later by establishing a reserve of digital asset via this initiative and organising the mandatory inner group and technical infrastructure for managing such digital property,” the corporate stated within the 6-Ok SEC doc.
It added that the “potential initiative” will enable it to “broaden into new markets.” Reitar Logtech didn’t instantly reply to Decrypt‘s questions.
Reitar Logtech, which provides a variety of companies for logistics operators and logistic property invesstors, joins a rising checklist of corporations aiming to offer shareholders with publicity to Bitcoin. They’ve been following the trail of Technique—previously MicroStrategy—which pivoted from software program improvement in 2020 to grow to be the world’s largest company holder of Bitcoin.
Technique inventory has soared greater than 2,800% over this era. The corporate on Monday introduced its newest Bitcoin purchase of about 705 Bitcoin value roughly $75 billion based mostly on present worth. It now holds roughly 581,000 BTC value $60.4 billion.
Different companies on the Nasdaq are additionally acquiringBitcoin, with healthcare firm Cosmos Well being (COSM), auto agency Worksport (WKSP), and power storage firm KULR Know-how Group (KULR) all just lately asserting crypto buys.
And in April, crypto and monetary companies giants Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group introduced that they’d create Twenty One, a publicly traded Bitcoin treasury firm with plans to amass 42,000 BTC—or about $4.5 billion value.
Bitcoin was just lately buying and selling at about $104,500, down barely over the previous 24 hours based on crypto knowledge supplier CoinGecko. It is up practically 11% year-to-date and hit a brand new all-time excessive of $111,814 in Could amid a wider upturn in crypto markets.
Edited by James Rubin
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