Mercurity Fintech Holding, a digital fintech group listed on NASDAQ, is committed to building blockchain-based payment infrastructure and plans to raise $800 million to establish a Bitcoin reserve, as more companies adopt cryptocurrency for strategic purposes.
Mercurity announced plans to raise $800 million to create a "long-term" Bitcoin (BTC) reserve and integrate it into a digital reserve framework through blockchain-native custody, staking integration, and tokenized reserve management services, the company stated in a Wednesday announcement.
Mercurity indicated that it would convert part of the reserve into a "yield-generating, blockchain-aligned reserve structure to enhance long-term asset exposure and balance sheet resilience."
By establishing a corporate Bitcoin reserve, the company aims to position itself as a "key player in the evolving digital financial ecosystem," said Shi Qiu, CEO of Mercurity Fintech, adding:
"We are building this Bitcoin reserve based on our belief that Bitcoin will become an important component of future financial infrastructure."
This $800 million capital raise will enable the company to purchase approximately 7,433 BTC at current prices.
According to Bitbo data, this would make Mercurity the eleventh largest corporate holder of Bitcoin globally, surpassing GameStop's 4,710 BTC.
According to Cointelegraph, at least 223 publicly traded companies currently hold a portion of their corporate reserves in Bitcoin, indicating a growing institutional interest, up from just 124 companies on June 5.
Data from BitcoinTreasuries.NET shows that over 819,000 BTC, accounting for 3.9% of the total supply, is currently held by publicly traded company reserves.
A spokesperson from Binance Research told Cointelegraph that a long-term investment perspective is driving the wave of corporate Bitcoin adoption, adding:
"Corporate BTC adoption is driven by long-term balance sheet strategies, reserve diversification, and capital raising activities."
Altcoins are also benefiting from the growing institutional interest. Cointelegraph reported on Wednesday that NASDAQ-listed fitness equipment manufacturer Interactive Strength announced plans to raise up to $500 million to establish a Fetch.ai (FET) token reserve.
Related: Traditional whales accelerate entry: The wave of Bitcoin institutional allocation is surging, how will the future landscape evolve?
Original: “Mercurity Fintech listed on NASDAQ plans to raise $800 million for Bitcoin (BTC) reserve”
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