🚨 Goodbye #BITCOIN , Hello #ETHEREUM ! 🚀 Bit Digital Becomes 100% Company #ETH and Generates Debt to Buy More, Risk or Master Move? 🤯💸
📢 Bit Digital (BTBT), the well-known Bitcoin miner listed on Nasdaq, has just announced a radical transformation! 🤯 They are saying goodbye to Bitcoin mining to become a 100% Ethereum company, focusing their strategy on building a massive treasury of Ether ($ETH )! 🚀
To achieve this, the firm will close its Bitcoin mining operations and, hold on tight, will issue corporate debt to expand its ETH holdings! 💰 The proceeds from the sale of their mining equipment ($BTC ) will also be used to buy more Ether, and they plan to convert their current #BTC to ETH over time. As of March 31, they already had a considerable amount of ETH ($44.6 million) and BTC ($34.5 million), but now their focus is clearly on Ether.
This move has not been well received by the stock market, as BTBT's shares closed the day down 3.7%. 📉 But Bit Digital is not alone in this ETH craze. Companies like BTCS Inc. and SharpLink are imitating Michael Saylor's MicroStrategy strategy (which accumulates BTC), but with ETH, taking advantage of the opportunity to generate additional value through staking! 💡
🤔 Do you think this "institutional craze for ETH" that imitates MicroStrategy is a smart evolution to capitalize on the potential of staking and Web3? 👇💬
