Wen Lambo? Jaguar, Land Rover Customizer Revs Up Bitcoin Strategy

ECD Automotive Design, Inc. He has provided $ 500 million to acquire and store the huge amounts of bitcoin in corporate treasury, according to a company statement on Monday – a business strategy that has gained attraction in recent months among numerous public companies.

A car renewal company based in Florida, which is charged as the largest restorer Land Rovers and Jaguar, has signed a $ 500 million capital drive from ECDA Bitcoin Treasury LLC, according to a statement for the public.

The capital object is a means to collect capital in which The company sells investors part of ownership in its business in exchange for funds.

Ecd -ovi The capital facility will largely go into the construction of its Bitcoin Treasury, with a part of the revenue financed by the general corporate initiatives, a representative of the ECD Automotive Design said in a statement.

“We are excited to ensure this significant financing option, which strengthens our financial foundation and allows us to diversify our tlazing strategy with Bitcoin,” ECD Automotive CEO of Design, Ben Piggott said on Monday.

ECD Automotive Design did not immediately respond to Decipherptic An additional comment request.

The business move focused on Bitcoin makes part of its initiative to deepen their engagement with the cryptocurrency community.

In March, ECD Automotive Design introduced a recent partnership to pay cryptocurrencies with the Crypto Play Batpay service provider. Over the next 12 months, ECD plans to offer $ 21 000 USD loans in the upgrade of vehicles to the first 21 customer buying vehicles using bitcoin.

The company strives to tape the Crypto Communities also comes as a growing field of public trading companies by establishing treasury treasury trees in Bitcoin-Igram Software Company Strategy Michael Saylor, which holds approximately $ 60 billion Bitcoin based on current prices.

A total of 243 public companies hold bitcoin – a number that has increased 13% in the last month, according to data from Bitcointreasuries.net.

Bitcoin traded at 102.961 from the time of writing, Coingecko data shows.

Edited by James Rubin