NASDAQ-listed company makes $100 million Bitcoin investment

Greenpro Capital, based in Kuala Lumpur and listed on the NASDAQ, aims to invest in Bitcoin through its subsidiary, CryptoSX, according to a news statement issued on December 28.

Greenpro Capital believes that Bitcoin will be widely used and invests in Bitcoin

The business stated in a statement that it believes in the widespread adoption of Bitcoin by banks, hedge funds, and insurance companies, and that it supports Bitcoin as a secure store of wealth.

To that aim, its CEO, CK Lee, has authorized Greenpro Capital investment bankers to raise up to $100 million in debt in Q1 2021. They will, however, use their financial reserves to purchase digital gold.

They may generate “substantial future value” for the firm by strategically managing their financial sheet and establishing a Bitcoin fund as part of their crypto strategy.

Apart from Bitcoin, Greenpro Capital argues that other prominent cryptocurrencies such as Ethereum offer greater returns, help retain value, and are a superior alternative to storing cash.

Public Companies that invested in Bitcoin

According to data from Bitcoin Treasuries, more public companies are investing in Bitcoin. MicroStrategy, for example, controls 70,470 BTC under the leadership of Michael Saylor.

They disclosed another $650 million purchase a few weeks ago, bringing their total BTC purchases to almost $1.9 billion at spot pricing, with profits of over $850 million.

Saylor has stated repeatedly that Bitcoin is a store of value and that the underlying network is a new financial layer that will fuel internet trade in the future.

He appeared to be asking market leaders to change their investment strategy in a recent tweet, saying that it was hard to follow a business mission by putting capital in a currency (USD) that was depreciating in value. He previously stated that Bitcoin was the first constructed safe-haven, referring to it as “hope.”

Galaxy Digital Holdings, which manages 16,651 BTC, and Square, which manages 4,709 BTC, are two more major public corporations that are interested in Bitcoin.

Square, according to BTCManager, sees cryptocurrencies like Bitcoin as a tool for economic empowerment and a way to participate in the global monetary system in a trustless and intermediary-free manner. They claim that these features are in line with their company’s goals.

As a result of the influx, NFL player Russel Okung, according to BTCManager, will now earn half of his $13 million paycheck in BTC.

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