Zhitong Sci-Tech Don Show Bitcoin Strategy and NBFC Deal
Zhitong Sci-Tech (8932) don be di first company wey dey Taiwan wey dem list for stock market to adopt bitcoin plan. On August 8, di board approve US$2 million investment for three-year convertible bonds wey SORA issue, join Zhitong into SORA global bitcoin reserve network. At di same time, Zhitong go buy Indian NBFC Letul Investments, to get license for cross-border fintech, crypto-asset lending, and Web3 payments. Di double bitcoin plan and NBFC deal resemble wetin Japan Metaplanet do, wey their share price jump almost 40× after dem launch their bitcoin reserve. After Zhitong announce am, their stock price and trading volume sharply increase. Crypto traders suppose watch dis new trend of Asian companies wey dey use bitcoin plans to increase asset value, improve NAV and EPS, and open new ways to earn money.
Bullish
Zhitong Sci-Tech wey adopt bitcoin strategy by investing US$2 million in convertible bond and buy one NBFC for crypto services show say institutional demand for bitcoin dey grow. For short time, big company wey hold plenty bitcoin announcement fit boost market feeling and trading volume, fit make price jump. For long term, if more companies start use bitcoin as reserve asset, e fit reduce supply for exchange and help keep price stable. Because of these reasons, dis news good for bitcoin.