Vinanz has secured $4 million in new funding to grow its Bitcoin holdings and prepare for a potential NASDAQ dual listing.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
Vinanz Limited, a firm that trades on the London Stock Exchange, has secured $4 million in bridge funding. The company focuses on Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B and plans to use the money to expand its presence in the digital currency space.
This funding shows Vinanz’s ongoing effort to strengthen its position in Bitcoin as more people and institutions show interest in cryptocurrencies worldwide.
According to an article shared on the London Stock Exchange, Vinanz said the funding came from an unnamed global investment manager. The company has already received the first $2 million, and the rest of the investment fund is expected soon.
As the update revealed, Vinanz plans to use the funds to grow its Bitcoin holdings. The goal is to strengthen its financial position ahead of a possible dual listing on the NASDAQ.
It is worth mentioning that the firm is also listed on the US OTCQB market under the ticker GB: BTC. The company intends to expand its exposure to Bitcoin by increasing its treasury holdings while boosting its North American mining operations.
These operations span several states in the US, including Indiana, Iowa, Nebraska, and Texas, as well as a facility in Labrador, Canada. The funding news comes as Bitcoin gains fresh momentum in global finance. The “Rich Dad Poor Dad” author Robert Kiyosaki recently advised investors to shun fiat money and invest in Bitcoin and precious metals instead.
With the increasing acceptance of Bitcoin as a financial asset, more investors are paying attention. The cryptocurrency’s value has also been rising. With this trend, Vinanz sees a chance to expand its presence. The company aims to build a stronger position before entering the larger US market.
According to the firm, expanding its holdings and operations aligns with its broader goal of becoming a key player in Bitcoin accumulation and infrastructure.
It is important to add that by leveraging new funding, Vinanz believes it is better placed to scale its mining capabilities.
Vinanz’s latest move comes as other companies are also shifting their focus toward Bitcoin. In an earlier update, David Bailey engineered another Bitcoin treasury firm through a KindlyMD merger.
Per the update, the merger marks a shift for KindlyMD, which had been focused on healthcare services until now.
Besides new entrants, established firms are also buying more BTC. Japanese investment firm Metaplanet recently made headlines with a major Bitcoin purchase. The company purchased 1,241 BTC for $129 million, placing it ahead of El Salvador in total Bitcoin holdings.
This brings its total holdings to 6,796 BTC worth over $700 million. The purchase, made at an average price of $101,843 per Bitcoin, was the company’s largest.
Bitcoin is worth $103,873.97, up 22% in the past month. This massive rally explains why companies like Vinanz and Metaplanet are increasing their focus on digital currency strategies.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
