‘Bitcoin First’ KULR Technology Seeks $300 Million to Boost BTC Holdings

Kulr Technology Group wants to raise $ 300 million to enhance his Bitcoin The Treasury, the company discovered on Monday in an application with US federal regulators – the latest sign increasing the number of public and private companies accept the oldest crypto currency in the world.

Kulr headquartered in California, which turned become The self-described Bitcoin-First company plans to collect $ 300 by selling its common shares on the market, with the help of Cantor Fitzgerald. It will use multiple bitcoin collection for its corporate treasury, founded last year, except that it increases its craft capital.

“Let’s build a long-term icing of the accumulation designed for the constant growth of BTC per share over time“Said the Kulr Technology CEO Michael Mo on Monday in a statement divided with Decipheradding that the company “dishonest is the short -term volatility of the market.”

After the announcement, Kulr’s shares traded at $ 1.20, which marked an increase of 2%in the last day.

The company holds 920 bitcoin worth about $ 996 million from the time of writing, Coingecko data shows.

Kulr’s offer to expand his Bitcoin Holdings comes because digital assets hover about 4% lower than the price of all time of $ 112,000, which he hit on May 22.

Bitcoin has recently changed his hands of $ 108,600, which has been increasing about 2.2%in the last 24 hours, according to Crypto Data Coingecko Data.

AND A recent increase in the price of bitcoin inspired the rash of public and private companies Add the crypto currency to their balance sheetsModeling their corporate strategies after the Michael Saylor Software Company Strategy.

More than five dozen public companies and more than a dozen private companies currently hold bitcoin, according to data From Bitb, while several companies recently announced their intentions to establish Bitcoin cash register. Among the companies that will embrace a booklet of strategy aimed at Bitcoin in the last few months are Public company SolarbankBlockchain group, Treasure Global and Davis goods.

Wider, 227 entities possess Bitcoin from the time of revelation, which is almost 11% in the last month, according to data from Bitcointreasuries.net. Overall, entities have $ 177 billion Bitcoin, with a strategy tokens $ 63 billion accountOr approximately one -third of those combined possessions, data show.

The raise also comes as a kulr said Monday in a statement that he joined “”Bitcoin for corporations“(” BFC “) Initiative, accelerator for the institutional adoption of Bitcoin who introduced the Bitcoin Strategy and Journal.

As an executive member of the initiative, Kulr will participate in the efforts to promote Bitcoin integration into corporate treasury trade companies using the use of tools for institutional classes, business grams and peer support networks.

Edited by James Rubin