PANews June 3 news, according to Cryptotimes, North American solar and energy storage project developer SolarBank announced that it will follow Strategy by adopting Bitcoin as its financial reserve asset. The company has applied to open a Coinbase Prime account for Bitcoin custody and plans to manage assets in conjunction with self-custody wallets. SolarBank stated that this move aims to hedge against inflation and the depreciation risk of fiat currency, while attracting technology-oriented investors interested in cryptocurrencies and the DeFi sector.
Company CEO Richard Lu stated that Bitcoin aligns with its long-term strategy in the energy and finance sectors, but specific purchasing plans will depend on market conditions, Bitcoin prices, and cash flow situations, and does not rule out the possibility of adjusting strategies. Currently, SolarBank has not purchased any Bitcoin and reaffirms that its core business remains the development and operation of renewable energy projects.
