Hong Kong-headquartered multinational financial services company Greenpro Capital Corp.(NASDAQ:GRNQ) has announced that it plans to invest in Bitcoin.
According to Greenpro Capital’s press release, “the ongoing mass adoption of $BTC by banks, hedge funds, insurance companies and institutions” have strengthened its belief that the world’s flagship cryptocurrency is a “reliable” store of value. The firm expects Bitcoin and certain other top cryptoassets (such as Ether) to provide better returns than holding cash.
That’s why Greenpro Capital wants to invest in Bitcoin. It plans to do so in two ways: (i) by using its own cash to buy BTC; and (ii) by raising up to $100 million in debt in order to be able to put even more money into Bitcoin.
Dr. CK Lee, the CEO of Greenpro Capital, had this to say:
“We fully believe in $BTC as a store of value. I’ve instructed our investment bankers to raise debt in Q1, 2021 of up to US$100 million to invest in $BTC. The Company will also invest its own cash into $BTC.”
Greenpro Capital will be using crypto exchange CryptoSX, which is one of its subsidiaries, to buy Bitcoin.
On December 11, another Nasdaq-listed firm, MicroStrategy, issued a press release to announce “the closing of its previously announced offering of 0.750% convertible senior notes due 2025”, and went on to say that “the aggregate principal amount of the notes sold in the offering was $650 million.” 10 days later, the MicroStrategy CEO provided the following update:
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.