Florida-based ECD Automotive Design has established a $500 million equity facility with the primary purpose of acquiring Bitcoin for its corporate treasury.
The equity arrangement is structured through ECDA Bitcoin Treasury LLC. This entity allows ECD to raise capital designated for Bitcoin purchases by offering ownership stakes to investors.
In related developments, ECD is collaborating with BitPay to enable Bitcoin payments for its vehicle restoration services. To incentivize early adoption, the company is offering the first 21 customers who pay in Bitcoin a credit of up to $21,000 towards vehicle upgrades.
This corporate adoption reflects a wider trend among publicly traded companies. Data from bitcointreasuries.net indicates 243 public companies now hold Bitcoin in their treasuries, marking a 13% increase over the past month. MicroStrategy remains the largest corporate holder, with its Bitcoin assets valued at over $60 billion.
Bitcoin’s current price point near $102,961 suggests a period of relative steadiness in demand. This perceived market stability could potentially enhance the long-term value proposition of ECD’s planned Bitcoin acquisitions.