📉 Mill City Ventures bets on $SUI
❗️Financial company Mill City Ventures III announced a $500 million deal to scale its strategy.
After the first purchase of 76.2 million SUI tokens for $276 million, the firm plans to raise another half a billion dollars through an equity line.
📌 Key facts:
🔘 Mill City is the only public company with an official partnership with Sui Foundation.
🔘 The funds will go towards increasing its position in SUI, focusing on the institutional level.
📉 Market reaction:
🔘 Mill City shares (MCVT) fell by 11.4%, another -4.28% after the market closed.
🔘 Despite the decline, since the launch of the SUI strategy, the shares have increased by 165%.
💬 Steven McIntosh: "This equity line gives us the firepower to scale our position as the sole treasury of Sui in the market"