U.S. listed company Solidion Technology plans to implement a Bitcoin corporate financial strategy

On November 15, Solidion Technology, a US stock battery material supplier listed company (stock code: STI), announced the implementation of a Bitcoin corporate financial strategy, intending to allocate its additional cash reserves to Bitcoin. The company plans to use 60% of the excess cash generated from operations for purchasing Bitcoin and will convert the interest income held in money market accounts into Bitcoin. It also pledged future fundraising efforts to acquire more Bitcoins and expects that a certain proportion of funds will be used for long-term holdings of Bitcoin acquisitions.
Solidion Technology's CFO Vlad Prantsevich said: "We firmly believe in the potential of bitcoin to transform the financial system, we see our allocation as both a safe store of value and an attractive investment. With the recent approval by SEC for bitcoin ETFs, we have seen an important step towards institutional acceptance. Furthermore, we expect that bitcoin's next development will be widely adopted by sovereign nations and corporations as reserve assets; with further global recognition for bitcoin it will create tremendous value and long-term upside potential. We have made our first purchase already and are pleased to continue increasing our holdings according to our policy parameters while planning on developing our strategy in future." (PR Newswire)