Another Public Company Treasury Pivots to Ethereum With $172M Raise

“Following a $172 million public equity raise and conversion of its balance sheet from Bitcoin to Ethereum, Bit Digital has accumulated over 100K ETH to become one of the largest corporate treasury companies in the world,” the firm stated on July 7.

“We believe Ethereum has the ability to rewrite the entire financial system,” said Bit Digital CEO Sam Tabar.

Some are saying that $ETH is on its way to become the new Bitcoin.

Will this backfire on them?

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Will this backfire on them?