Big Ether Moves: ETH Strategy Attracts 12K ETH, BTCS Plans $2B Fundraise
Main Idea
Companies are increasingly shifting their treasury strategies from Bitcoin to Ethereum, with notable examples including MSTR and BTCS Inc., which are raising funds and transitioning to ETH-focused operations.
Key Points
1. MSTR has raised 12,342 ETH ($46.5M) through private and public sales, with funds allocated for staking, liquidity, and protocol development.
2. BTCS Inc., originally a BTC mining firm, is transitioning to an ETH treasury and plans to sell shares worth up to $2 billion to fund further cryptocurrency purchases, including ETH.
3. The tokens raised by MSTR will be locked for 4-6 months post-TGE, with 11,817 ETH for staking/liquidity and 525 ETH for growth/development.
4. BTCS Inc. filed an S-3 statement with the SEC, detailing plans to sell common and preferred stock, including 5 million common shares from previously issued convertible notes and warrants.
Description
News of companies breaking the usual BTC treasury trend continues to emerge almost daily, and we can see everything from new players to established industry veterans shifting to the second-largest digital asset. The DeFi-native Ethereum is steadily stealing the spotlight; only time will tell if the momentum will keep going, albeit there are currently no signs of a slowdown. The Newcomer ETH Strategy, Ethereum’s first autonomous treasury protocol to reimagine Saylor’s MSTR in a DeFi-native contex...
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