Nasdaq Traded Company to Buy $100 Million Bitcoin

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A publicly traded company has announced they plan to issue $100 million worth of debt in order to buy bitcoin, copying MicroStrategy’s strategy. The Malaysian section of GreenPro Capital (NASDAQ:GRNQ), a corporate advisory and investment firm, said they plan to invest some of their holdings too. “GRNQ believes that BTC and other top crypto currencies such as Ethereum ‘ETH’ will provide the opportunity for better returns and preserve the value of our capital over time rather than holding cash. We also remain committed to our incubation business model as well as our satellite and A.I. accounting businesses,” they said. The company has a market cap of about $100 million with $11 million in assets and about $1 million in quarterly revenue. Therefore it remains to be seen whether they can raise the funds, which can act as a proxy for buying bitcoin, but its CEO, CK Lee, said: “We fully…

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