INSUBCONTINENT EXCLUSIVE:
Digital asset company Bit Digital has pivoted its corporate treasury strategy from Bitcoin to Ether, saying the shift reflects its
along with funds from the sale of 280 Bitcoin (BTC), to acquire Ether (ETH), the company disclosed on Monday.As of the end of the first
The company's stock, which trades under the symbol BTBT, surged more than 29% on the news, bringing its market capitalization back above $1
billion.The shift makes Bit Digital the second-largest corporate holder of ETH, with only Coinbase Global holding a larger stake in the
Source: Google FinanceRelated: Vitalik proposes gas cap to enhance Ethereum security, stabilityCorporate crypto treasury strategies have
gained momentum this year, though most activity has centered on accumulating and holding Bitcoin.In the past month alone, at least 21
entities have added BTC to their balance sheets, according to industry data
The largest corporate holder, Strategy (MSTR), has amassed 597,323 BTC.Publicly-traded Bitcoin treasury companies
Source: BitcoinTreasuries.NETHowever, some analysts have raised concerns that the treasury strategy is becoming overplayed, particularly for
companies that lack a strong underlying business or a clear plan for managing their BTC holdings.Beyond Bitcoin, crypto treasury strategies
Bitcoin treasury model.So far, institutional interest in Ethereum has remained relatively muted, judging by inflows into ETH exchange-traded
funds since their approval last year
However, the tide may be starting to turn, with US Ether funds recording inflows for seven consecutive weeks.Related: Circuit unveils
