Summary
- UK-listed GSTechnologies announced it has raised approximately $2.38 million to build up its Bitcoin reserves.
- The company revealed that most of the funds raised will be used for accumulating Bitcoin.
- GSTechnologies also plans to launch a small public offering for retail investors in addition to the institutional investor placement.
UK-listed blockchain payment company GSTechnologies has reportedly raised £1.75 million (approximately $2.38 million) to stockpile Bitcoin (BTC).
According to Investing.com on the 7th (local time), GSTechnologies stated in a press release, “As part of our Bitcoin reserve strategy, we have raised £2 million through a public offering to institutional investors,” adding, “Most of the funds raised will be used for the accumulation of Bitcoin.” In addition, they stated, “We are also planning a small public offering for retail investors up to £250,000.”
As of 9:43 p.m., based on Binance’s USDT market, Bitcoin was trading at $108,485, up 0.35% from 24 hours earlier.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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