“Ethereum Believers” — BTCS just invested $57.8 million all in ETH!!!
BTCS has just secured funding led by ATW Partners, planning to massively deploy ETH validation nodes and capture staking income. This move is clearly learning from the strategy of playing BTC, except they are all in on Ethereum.
The details are even more intense: the first batch issued $7.8 million in convertible bonds, with an interest rate of 6%, but the conversion price set at three times the stock price. They are not betting on stock price increases, but on the long-term value of ETH!
And that's not all, investors also received options to buy 1.9 million shares at $2.75 within five years, showing no fear of low stock prices — are they buying BTCS? No, they are buying the future of ETH.
BTCS has just finished borrowing from Aave to sweep ETH, and immediately follows up with financing to expand the nodes, creating a closed-loop operational chain that is astonishing.
A publicly traded company dares to go all in like this, indicating that staking business has become a new blue ocean of “low-risk stable returns” in the eyes of institutions.
ETH is still wrestling with Coca-Cola and Alibaba, and the logic of staking has already started to run into Wall Street like “buying mining machines to mine BTC” did back in the day.
