Recently, many companies have stepped up their Bitcoin (BTC) purchases, following in the footsteps of MicroStrategy (Strategy).
While one of the most important of these, the US giant GameStop, made its second Bitcoin purchase, another company started preparations to buy BTC.
Mercurity Fintech (Nasdaq: MFH), a Nasdaq-listed digital fintech group, has announced plans to raise $800 million to create a long-term Bitcoin treasury reserve.
Accordingly, the company stated that it will collect $800 million for the Bitcoin treasury reserve.
Aside from purchasing Bitcoin, the funds raised will also be used to integrate blockchain-focused custody services, staking, and tokenized treasury management into the company’s digital reserve framework.
The company also said that FTSE Russell is expected to be included in the broad market Russell 3000 and Russell 2000 Indexes under its 2025 annual restructuring preliminary list.
The company’s CEO, Shi Qiu, said the following about the Bitcoin move:
“We are creating this Bitcoin treasury reserve based on our belief that Bitcoin will be a fundamental component of the future financial infrastructure.
We are positioning our company to be a key player in the evolving digital financial ecosystem.
Our company is also set to move from Russell Microcap to Russell 2000, demonstrating that investors recognize the value we create in blockchain finance.
Our Bitcoin treasury reserve initiative is the next logical step in this direction.”
*This is not investment advice.