Reitar announces up to $1.5 billion BTC acquisition while Strategy buys again
Reitar Logtech Holdings Ltd, a Hong Kong company focused on real estate and logistics technology, plans to invest up to $1.5 billion in Bitcoin. A filing with the U.S. Securities and Exchange Commission (SEC) under number 001-42210 shows the firm wants to use this purchase to support its growth outside Hong Kong.
Reitar Logtech says the move updates its treasury strategy and helps it handle changing financial conditions. By adding Bitcoin to its reserves, the company aims to back further development in its logistics technology platform. The SEC filing makes clear that digital currency will serve both as a store of value and as a way to react to shifts in global markets.
Kin Chung Chan, Director, Chairman, and Chief Executive Officer of Reitar Logtech, signed the document submitted to the SEC. The company states that investing in Bitcoin is intended specifically to strengthen its logistics technology business.
“This strategic treasury diversification initiative underscores our commitment to maintaining a strong financial foundation while scaling our global logistics technology platform,” said Reitar Logtech Chairman and CEO John Chan, according to the filing.
He added, “By exploring Bitcoin treasury allocation, we aim to fortify our financial position while aligning with digital transformation trends in the supply chain industry. This potential initiative provides enhanced flexibility to pursue strategic acquisitions and expand into new markets.”
Reitar announces BTC acquisition while Strategy buys again
On the same day, Strategy (formerly known as MicroStrategy) announced it purchased 705 BTC at a cost of $75.1 million. Strategy now holds 580,955 BTC, with a total value of over $60 billion.
Despite these moves, Wall Street remains skeptical. This week, Trump Media said it would raise $2.5 billion to buy Bitcoin, and GameStop announced a $500 million Bitcoin investment. A newcomer, Twenty One, backed by Tether, SoftBank, and Strike’s Jack Mallers, launched with plans to hold 42,000 BTC from the start, which would make it the third-largest corporate Bitcoin holder worldwide.
Shares of Trump Media fell more than 20% after its announcement, while GameStop’s stock dropped 17%. Investors appear unconvinced that these Bitcoin-focused strategies will pay off in the near term.
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Reitar announces up to $1.5 billion BTC acquisition while Strategy buys again
Reitar Logtech Holdings Ltd, a Hong Kong company focused on real estate and logistics technology, plans to invest up to $1.5 billion in Bitcoin. A filing with the U.S. Securities and Exchange Commission (SEC) under number 001-42210 shows the firm wants to use this purchase to support its growth outside Hong Kong.
Reitar Logtech says the move updates its treasury strategy and helps it handle changing financial conditions. By adding Bitcoin to its reserves, the company aims to back further development in its logistics technology platform. The SEC filing makes clear that digital currency will serve both as a store of value and as a way to react to shifts in global markets.
Kin Chung Chan, Director, Chairman, and Chief Executive Officer of Reitar Logtech, signed the document submitted to the SEC. The company states that investing in Bitcoin is intended specifically to strengthen its logistics technology business.
“This strategic treasury diversification initiative underscores our commitment to maintaining a strong financial foundation while scaling our global logistics technology platform,” said Reitar Logtech Chairman and CEO John Chan, according to the filing.
He added, “By exploring Bitcoin treasury allocation, we aim to fortify our financial position while aligning with digital transformation trends in the supply chain industry. This potential initiative provides enhanced flexibility to pursue strategic acquisitions and expand into new markets.”
Reitar announces BTC acquisition while Strategy buys again
On the same day, Strategy (formerly known as MicroStrategy) announced it purchased 705 BTC at a cost of $75.1 million. Strategy now holds 580,955 BTC, with a total value of over $60 billion.
Despite these moves, Wall Street remains skeptical. This week, Trump Media said it would raise $2.5 billion to buy Bitcoin, and GameStop announced a $500 million Bitcoin investment. A newcomer, Twenty One, backed by Tether, SoftBank, and Strike’s Jack Mallers, launched with plans to hold 42,000 BTC from the start, which would make it the third-largest corporate Bitcoin holder worldwide.
Shares of Trump Media fell more than 20% after its announcement, while GameStop’s stock dropped 17%. Investors appear unconvinced that these Bitcoin-focused strategies will pay off in the near term.
Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
Read More