Ethereum (ETH) has been attracting the attention of the system for a while, like Bitcoin (BTC). While many companies are making an announcement of ETH purchases one after another, Sharplink Gaming, on the way to become Ethreum's micro-tactics, continues to maintain its position as the world's largest public ETH owner and second-largest owner, after the Ethereum Foundation.
Companies other than Sharplink Gaming continue to buy ETH, but the latest news comes from the blockchain company BTCS, registered with NASDAQ.
Therefore, BTCS has announced plans to raise $100 million to buy additional Ethereum.
BTCS stated in a post on X:
“To accumulate more Ethereum, we plan to raise $100 million this year through convertible bonds, market (ATM) stock offerings and staking fees.
The plan aims to increase the amount of Ethereum per share, thereby increasing shareholder value.
Leading in building a company focused on Ethereum infrastructure. ”
Currently, BTC owns 14,600 ETH.
The institutional transition from Bitcoin to Ethereum!
As is known, Bit Digital has recently made a bold move by shifting all institutional investments from Bitcoin to Ethereum. This raised questions in the market. “Why do institutional investors suddenly accumulate Ethereum instead of Bitcoin?”
There are multiple answers to this question, but Bit Digital CEO said he switched from BTC to ETH because he believes the future is Ethereum.
“Ethereum is the next wave. With actual economic activity, a massive developer base, and the growing amount of stubcoin and tokenization, ETH is becoming a new type of strategic asset that captures value.”
Market experts also predict that business companies will turn to Ethereum more, due to reasons such as Ethereum's programmable blockchain structure, increased adoption rates, staking model, tokenization, and Stablecoin leadership.
Vitalik Buterin, founder of Ethereum, also said that the institution views ETH as valuable and chooses it for reliability, privacy and long-term trust, not speed.
*This is not investment advice.
