Summary
- SolarBank has announced plans to hold Bitcoin as a strategic reserve asset.
- The company said it expects to hedge inflation and improve access to institutional funding through holding Bitcoin.
- No Bitcoin purchases have been made yet, and the timing and amount will be flexibly determined depending on market conditions.
SolarBank, a renewable energy developer listed on the Nasdaq, has announced a strategic Bitcoin (BTC) reserve plan.
On the 4th (local time), SolarBank stated in a press release, "We are implementing a strategy to hold Bitcoin as a reserve asset," adding, "We will either entrust it with Coinbase Prime or manage it through a self-custody wallet."
The company continued, "By holding Bitcoin, we aim to hedge against inflation and improve access to institutional funding. This may also provide opportunities to reach a broader range of investors."
However, no Bitcoin purchases have been made yet. SolarBank explained, "The timing and amount of Bitcoin purchases will be determined according to market and funding conditions," adding, "Depending on various factors in the future, the plan may be temporarily suspended or modified."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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