Reitar Logtech Holdings Ltd. has outlined an intention to purchase $1.5 billion worth of Bitcoin as part of a treasury diversification strategy. This initiative aims to enhance the company's financial resilience and spur further growth in logistics technology. As part of this 'BTC Program,' Reitar plans to acquire up to 15,000 BTC from a consortium of institutional and high-net-worth investors, using company shares as a medium of exchange influenced by market prices. The initiative is expected to fortify Reitar's balance sheet and allow for greater flexibility in acquisitions and digital infrastructure investments, particularly in rapidly developing Asian markets. The company's management believes that this approach will mitigate traditional asset risks and advance its vision for global logistics. Dale Shen, Chairman and CEO of Reitar, commented that incorporating digital assets into their financial framework enables more robust treasury management and propels technological advancement.
In another significant development, VivoPower International PLC has partnered with BitGo for a $100 million XRP acquisition strategy, establishing a footprint in the digital asset realm. In collaboration with BitGo's 24/7 Over-the-Counter (OTC) trading desk and custody services, VivoPower is seeking to securely purchase and manage XRP tokens. This partnership follows a recent capital raise of $121 million and reflects VivoPower's shift toward decentralized finance solutions. Kevin Chin, Executive Chairman and CEO of VivoPower, underlined the importance of BitGo's services in securely managing their digital asset portfolio, while BitGo's CEO Mike Belshe hailed VivoPower's entry into the crypto sector as a sign of institutional confidence in the market. Additionally, VivoPower has filed a registration statement with the SEC for a public offering, emphasizing its commitment to compliance and transparency in its digital asset strategy.
In another significant development, VivoPower International PLC has partnered with BitGo for a $100 million XRP acquisition strategy, establishing a footprint in the digital asset realm. In collaboration with BitGo's 24/7 Over-the-Counter (OTC) trading desk and custody services, VivoPower is seeking to securely purchase and manage XRP tokens. This partnership follows a recent capital raise of $121 million and reflects VivoPower's shift toward decentralized finance solutions. Kevin Chin, Executive Chairman and CEO of VivoPower, underlined the importance of BitGo's services in securely managing their digital asset portfolio, while BitGo's CEO Mike Belshe hailed VivoPower's entry into the crypto sector as a sign of institutional confidence in the market. Additionally, VivoPower has filed a registration statement with the SEC for a public offering, emphasizing its commitment to compliance and transparency in its digital asset strategy.
