EU Gaming Company Fragbite Group Launches Bitcoin Treasury with 4.3 BTC Purchase
Main Idea
Swedish gaming company Fragbite Group has initiated a Bitcoin treasury strategy by purchasing 4.3 BTC, joining a global trend of corporate Bitcoin adoption.
Key Points
1. Fragbite Group purchased 4.3 Bitcoin at an average price of $112,958 per coin as part of its new Bitcoin treasury strategy.
2. The company raised an additional 6 million Swedish krona ($630,000) through an interest-free financial instrument.
3. Over 274 companies now hold 3.57 million Bitcoin on their balance sheets, with MicroStrategy recently adding 6,220 BTC.
4. Bitcoin spot ETFs saw a $131.35 million outflow on July 21, ending a 12-day inflow streak, while Ethereum ETFs continued to attract inflows.
5. SpaceX transferred 1,308.45 Bitcoin from a wallet, raising speculation about its Bitcoin holdings strategy.
Description
Swedish gaming company Fragbite Group has launched a Bitcoin treasury strategy by purchasing 4.3 Bitcoin at an average price of $112,958 per coin, becoming the latest European firm to adopt cryptocurrency as a primary reserve asset amid a global wave of corporate adoption. The company raised an additional 6 million Swedish krona ($630,000) through an interest-free convertible loan to fund further Bitcoin purchases, with conversion rights triggered if shares exceed the SEK 13 conversion price by ...
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