ECD Automotive Design, Inc., a leading customizer of Jaguars and Land Rovers, has announced a $500 million equity facility to acquire and manage substantial Bitcoin reserves. This strategy, gaining popularity among public companies, aims to enhance their financial stability. The Florida-based firm plans to use the funds primarily for building its Bitcoin treasury, with some allocated for general corporate purposes. CFO Ben Piggott expressed enthusiasm about this financing, highlighting its potential to diversify their treasury strategy. Additionally, ECD is deepening its ties with the cryptocurrency community, having recently partnered with BitPay to accept crypto payments. To incentivize Bitcoin purchases, the company will offer $21,000 credits for vehicle upgrades to the first 21 customers who buy cars using Bitcoin. This move aligns with a broader trend, as 243 public companies now hold Bitcoin, reflecting a 13% increase in just a month, according to bitcointreasuries.net. As of now, Bitcoin is trading at 102,961, according to CoinGecko. Read more AI-generated news on: https://app.chaingpt.org/news

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