The election of Donald Trump is already bearing fruit in the crypto ecosystem. The future president of the United States is not yet in office when Solidion, a company listed on the Nasdaq, announced that its treasury would now consist of BTC in anticipation of the next mandate, which promises to be truly promising for the sector.
Bitcoin lands in all American treasuries
Institutional FOMO? Solidion, a Nasdaq-listed company specializing in the development and commercialization of advanced battery technologies, just announced that part of its treasury would now consist of Bitcoin.
“ This initiative takes place in a context marked by the election of a government favorable to cryptocurrencies, » said the company in its press release. Some would see this as the start of a long series of companies that could follow suit.
And when it comes to getting involved in cryptocurrency, Solidion doesn’t take it lightly: the American company declared that it would devote 60% of its excess cash to Bitcoin, convert its interests into BTC, and that part of its future fundraising will be dedicated to purchasing the king of cryptocurrencies.
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For once, Solidion is one of the companies that sees Bitcoin as a hedge against inflation. In addition, its decision is motivated by the possibility that the United States constitutes a strategic reserve of BTC, but also by the success encountered by Bitcoin spot ETFs, which today have more than $92 billion in assets. under management.
We anticipate that Bitcoin will one day become a reserve asset adopted by sovereign nations and corporationswhich will provide substantial value and long-term growth potential. We have made our first purchase and look forward to continuing to accumulate Bitcoin within our policy parameters.
🗞️ In related news — Pennsylvania could become the first US state to adopt Bitcoin as a reserve asset
Solidion is a growing company, recently included in the Russell 3000 index. It now has 550 patents in the battery sector. Following the announcement of its change of strategy, Solidion saw its share price (STI) rise by more than 21% over the last 24 hours.
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Source: PR Newswire
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