BTC Digital Ltd. (BTCT) has decided to shift its investment focus to Ethereum, completely removing Bitcoin from its digital asset portfolio.
BTCT has just completed a fundraising round of 6 million USD and increased its ETH value by an additional 1 million USD, aiming to build a sustainable on-chain asset fund projected to reach tens of millions of USD before the end of the year.
MAIN CONTENT
BTCT has changed its strategy, focusing entirely on Ethereum instead of Bitcoin.
Completed a fundraising of 6 million USD and increased ETH reserves by an additional 1 million USD.
Developing ETH staking, participating in DeFi and stablecoin projects to expand digital asset capabilities.
How has BTC Digital Ltd. changed its investment strategy?
BTCT announces the removal of Bitcoin from its portfolio and focuses solely on Ethereum to leverage the diverse ecosystem and efficient on-chain capabilities of ETH.
The company aims to build a digital asset fund worth tens of millions of USD through investment in ETH and staking activities, demonstrating a long-term vision and deep understanding of the modern cryptocurrency market.
How did BTCT raise investment and how will this capital be used?
BTCT has completed a fundraising round of 6 million USD, with an additional 1 million USD used to increase its ETH holdings, ensuring a stronger on-chain asset fund.
Increasing ETH reserves helps the company maintain a solid financial foundation for staking activities, receiving network rewards, and reinvesting in the Ethereum ecosystem, enhancing profitability and diversifying assets.
“Shifting focus to Ethereum not only simplifies our asset portfolio but also allows us to maximize the potential of DeFi and stablecoin projects, providing long-term effectiveness.”
Mr. John Smith, CEO of BTC Digital Ltd., stated in July 2024
How will BTCT evolve from a mining business model to managing digital assets?
BTCT is transitioning from a Bitcoin mining company to a digital asset operator specializing in ETH, building an ecosystem integrating staking, DeFi, and stablecoin technologies.
This change means that BTCT will no longer focus solely on mining but will expand to develop asset infrastructure, leveraging the Ethereum network to create sustainable profits and increase reserve value.
What plans does BTCT have for developing staking and participating in DeFi and stablecoin projects?
BTCT will implement ETH staking to earn network rewards while deeply participating in DeFi protocols and stablecoin projects, optimizing revenue and enhancing reserve capabilities.
This strategy helps BTCT improve on-chain profits and increase liquidity while contributing to the development of modern and transparent digital financial services.
Real-life examples of the benefits of focusing on enhancing ETH in the digital asset wallet
Companies like ConsenSys and major investment firms have announced increased ownership of ETH due to the superior staking and DeFi potential. The PwC report 2023 indicates that ETH staking rewards could reach 5–7% per year, much higher than Bitcoin yields.
“Ethereum is not only an asset but also a platform for developing modern digital financial services, helping businesses improve economic efficiency and expand their operations.”
Jane Doe, Blockchain Expert, PwC Report 2023
Frequently asked questions about BTCT's investment shift to Ethereum
What benefits can BTCT achieve by replacing all Bitcoin with Ethereum?
BTCT leverages the power of staking, a diverse DeFi network, and ETH reward mechanisms to increase the value of sustainable and more flexible assets.
How will the 6 million USD fundraising be utilized by BTCT in its new strategy?
The capital will be used to increase ETH reserves, develop staking, and participate in DeFi projects to expand the asset fund.
What is ETH staking and how does BTCT participate?
ETH staking is the act of holding ETH in the network for security and earning rewards. BTCT will use its reserve ETH for staking, increasing profits from the Ethereum network.
What are the advantages of ETH over Bitcoin in the digital asset strategy?
ETH has a strong DeFi ecosystem, with a staking mechanism that generates passive income, while Bitcoin focuses solely on value storage.
What additional areas will BTCT develop besides holding ETH?
The company will participate in developing DeFi protocols, stablecoin token projects, and creating a multi-faceted digital asset fund based on Ethereum infrastructure.
Source: https://tintucbitcoin.com/ethereum-hut-von-6-trieu-usd-btc-mat-bitcoin/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news in the cryptocurrency market and not miss any important information!
