Summary
- Shares of the UK-listed company Panther Metals Plc reportedly surged by 21% following the announcement of a Bitcoin reserve.
- Panther Metals Plc announced its intention to hold £4,000,000 worth of Bitcoin.
- Additionally, the company stated it will complete the Pick Lake Mine acquisition by using Bitcoin collateral worth £1,300,000.
Shares of UK-listed mineral exploration company Panther Metals Plc surged after announcing it will hold Bitcoin (BTC) reserves.
According to Cointelegraph on the 24th (local time), Panther Metals Plc's share price jumped 21% the previous day. The spike has been attributed to the announcement regarding accumulating Bitcoin reserves.
Previously, Panther Metals Plc revealed its intention to hold £4,000,000 (approximately $5,400,000) worth of Bitcoin. Furthermore, to complete the acquisition of Pick Lake Mine, Ontario, Canada, the company plans to use approximately £1,300,000 worth of Bitcoin as collateral. Panther Metals Plc stated, "With our Bitcoin-backed strategy, we are able to achieve both building up reserves and acquiring Pick Lake Mine."
Son Min
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