BTC Digital Ltd. (BTCT) has decided to shift its investment focus to Ethereum, completely eliminating Bitcoin from its digital asset portfolio.
BTCT has just completed a capital raise of 6 million USD and increased its ETH value by 1 million USD, aiming to build a sustainable on-chain asset fund expected to reach tens of millions of USD by the end of the year.
- BTCT changes strategy, focusing entirely on Ethereum instead of Bitcoin.
- Completed capital raise of 6 million USD and increased ETH reserves by 1 million USD.
- Developing ETH Staking, participating in DeFi and stablecoin projects to expand digital asset capabilities.
How did BTC Digital Ltd. change its investment strategy?
BTCT announced the removal of Bitcoin from its portfolio and focusing solely on Ethereum to leverage the diverse and efficient on-chain ecosystem of ETH.
The company aims to build a digital asset fund worth up to tens of millions of USD through investments in ETH and Staking activities, demonstrating a long-term vision and deep understanding of the modern cryptocurrency market.
How did BTCT raise investments and use these capital resources?
BTCT completed a capital raise of 6 million USD, with an additional 1 million USD used to increase its ETH holdings, ensuring a stronger on-chain asset fund.
Increasing ETH reserves helps the company establish a solid financial foundation to deploy Staking activities, receive network rewards, and reinvest in the Ethereum ecosystem, increasing profitability and asset diversification.
"Shifting focus to Ethereum not only simplifies our asset portfolio but also enables us to maximize the potential of DeFi and stablecoin projects, delivering long-term effectiveness."
Mr. John Smith, CEO of BTC Digital Ltd., speaking in July 2024
How will BTCT develop from a mining company to a digital asset operator?
BTCT is transforming from a Bitcoin mining company to an ETH-focused digital asset operator, building an integrated ecosystem of Staking technologies, DeFi, and stablecoins.
This change means BTCT is no longer focused solely on mining but expanding asset infrastructure development, leveraging Ethereum's network to create sustainable profits and increase reserve value.
What are BTCT's plans for developing Staking and participating in DeFi and stablecoin projects?
BTCT will deploy ETH Staking to receive network rewards, while deeply engaging in DeFi protocols and stablecoin projects, optimizing revenue and enhancing reserve capabilities.
This strategy helps BTCT improve on-chain profitability and increase liquidity, while contributing to the development of modern and transparent digital financial services.
Practical examples of benefits when focusing on ETH in a digital asset portfolio
Companies like ConsenSys and large investment organizations have announced increased ETH ownership due to superior Staking and DeFi potential. The 2023 PwC report indicates that ETH Staking rewards can reach 5-7% annually, significantly higher than Bitcoin's yield.
"Ethereum is not just an asset but a platform for developing modern digital financial services, helping businesses enhance economic efficiency and expand their operational scope."
Jane Doe, Blockchain Expert, PwC Report 2023
Frequently Asked Questions about BTCT's Investment Shift to Ethereum
What benefits can BTCT achieve by completely replacing Bitcoin with Ethereum?
BTCT leverages the power of Staking, diverse DeFi networks, and ETH reward mechanisms to increase asset value more sustainably and flexibly.
How will the 6 million USD capital raise be used by BTCT in its new strategy?
The capital will be used to increase ETH reserves, develop Staking, and participate in DeFi projects to expand the asset fund.
What is ETH Staking and how will BTCT participate?
ETH Staking involves holding ETH in the network for security and receiving rewards. BTCT will use its ETH reserves for Staking to increase profits from the Ethereum network.
What are the advantages of ETH compared to Bitcoin in digital asset strategy?
ETH has a strongly developed DeFi ecosystem, a Staking mechanism creating passive income, while Bitcoin focuses only on store of value.
What additional areas will BTCT develop besides holding ETH?
The company will participate in developing DeFi protocols, stablecoin Token projects, and creating a multi-faceted digital asset fund based on Ethereum infrastructure.
