Nasdaq-listed GD Tradition Group Restricted (ticker GDC) will add 7,500 bitcoins to its “long-term digital asset reserve” as soon as its acquisition of Pallas Capital is finalized, the agency disclosed on Wednesday.
These bitcoins are value round $876 million at present costs, in line with The Block’s value web page. Bitcoin is at the moment buying and selling barely above $115,000.
On Tuesday, GDC entered right into a definitive share trade settlement to amass 100% of Pallas Capital’s circulating shares in trade for over 39 million newly issued shares of GDC frequent inventory. Pallas is a British Virgin Islands-registered firm.
“By finishing this acquisition, we’ve considerably strengthened our stability sheet and established us among the many prime 15 publicly traded corporations with the biggest Bitcoin treasury reserves,” GDC CEO Xiaojian Wang mentioned in an announcement. “Trying forward, we’ll proceed to guage alternatives to additional leverage blockchain and decentralized finance (DeFi) options to additional improve shareholder worth.”
Based on BitcoinTreasuries, the absorption of Pallas’s 7,500 BTC alone would place GDC between the present Thirteenth- and 14th-largest publicly-traded bitcoin holders, Block and Galaxy, respectively, with an estimated 8,692 BTC and 6,894 BTC on their stability sheets. It’s unclear how a lot bitcoin, if any, GDC held earlier than the Pallas acquisition.
This isn’t the agency’s first foray into crypto markets. In Might, GDC signed a inventory buy settlement with a British Virgin Islands-based investor to boost round $300 million to fund bitcoin and TRUMP memecoin purchases.
GD Tradition began as a digital human expertise and e-commerce firm earlier than launching the digital asset treasury.
Disclaimer: The Block is an impartial media outlet that delivers information, analysis, and information. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in different corporations within the crypto house. Crypto trade Bitget is an anchor LP for Foresight Ventures. The Block continues to function independently to ship goal, impactful, and well timed details about the crypto business. Listed here are our present monetary disclosures.
© 2025 The Block. All Rights Reserved. This text is supplied for informational functions solely. It’s not supplied or supposed for use as authorized, tax, funding, monetary, or different recommendation.