As the number of institutions investing in Bitcoin increases day by day, many companies are following in MicroStrategy's footsteps.
At this point, US-based battery materials supplier Solidion Technology announced that it plans to use 60% of the excess cash generated from operations to purchase Bitcoin.
Nasdaq-listed Solidion Technology announced today that it has taken an important step in its corporate treasury strategy by allocating a significant portion of its excess cash reserves to Bitcoin.
“60% of Excess Cash to Be Allocated to Bitcoin: Solidion will allocate 60% of excess cash generated from operations to Bitcoin purchases.
Interest Earnings Will Be Segregated into Bitcoin: Solidion will convert interest earnings on cash held in money market accounts into Bitcoin.
Additional Bitcoin to be Purchased in Future Capital Raise: Solidion will allocate a percentage of funds to Bitcoin acquisitions to be held for the long term.
The allocation reflects a strong commitment to growing the value of Bitcoin by leveraging its potential as a hedge against inflation and a valuable component of a diversified treasury.
Vlad Prantsevich, CFO of Solidion Technology, said: “We strongly believe in the transformative potential of Bitcoin for the financial system and see our allocation as both a safe store of value and an attractive investment. We have made significant strides towards institutional adoption with our recent approval of Bitcoin ETFs. We also anticipate that the next evolution of Bitcoin will be widespread adoption as a reserve asset by both sovereign nations and corporations, creating significant value and long-term upside potential as Bitcoin gains global acceptance. We have made our first purchase and are excited to continue to stack Bitcoin in line with our policy parameters. We plan to evolve our strategy as we move forward.”
*This is not investment advice.