The blockchain technology company BTC Digital ( code BTCT) recorded a bullish increase in stock prices of up to 20% on Friday after announcing the establishment of a strategic reserve fund of 1 million dollars in Ethereum tokens. This is the first step in the initiative to expand exposure to Ethereum’s on-chain financial infrastructure to drive long-term growth.
CEO Siguang Peng stated: “Ethereum has become the platform for USD payments on-chain and value transfer.” BTC Digital, founded in 2006 and listed on Nasdaq since April 2020, currently has a market capitalization of approximately 32 million dollars.
The company is transitioning from a hash rate provider to an on-chain financial infrastructure member, with plans to increase its ETH holdings in line with market developments. Recently, the price of ETH has reached $3,000 for the first time since February.
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