CIMG Inc Raise $55M Through Share Sale to Buy 500 BTC
CIMG Inc, one digital health and sales development company, don raise $55 million by issuing 220 million ordinary shares at $0.25 each to buy 500 BTC as part of e their Bitcoin buy plan. The company talk say dem go hold Bitcoin long term and dem go expand dem digital asset reserve through partnership for AI and crypto ecosystem, include Merlin Chain. Meanwhile, MicroStrategy buy 4,048 BTC worth $449.3 million from August 25 till Monday at average price $110,981 per coin, the money na from different at-the-market stock offerings. Japanese company Metaplanet also get shareholder approval to restructure their capital to allow multi-billion-dollar fundraising dedicated to Bitcoin accumulation. According to BitcoinTreasuries.net, MicroStrategy and Metaplanet dey hold 636,505 and 20,000 BTC respectively.
Bullish
Dis news dey show say institutional demand for Bitcoin dey grow. How CIMG use equity financing take buy BTC follow MicroStrategy well-known strategy, e give more confidence say Bitcoin fit be corporate treasury asset. When MicroStrategy and Metaplanet buy big at once, e add more buying pressure and reduce how much supply dey. Normally, when big public companies dey increase their Bitcoin holdings, market sentiment dey positive, e dey make short-term price rally happen. For long term, dis kain action go support Bitcoin story as store of value and fit make other companies want follow the same strategy, maintain upward momentum.