What happened?
Treasury, Europe’s first Bitcoin treasury company listed on a primary stock exchange, and backed by the Winklevoss twins, has raised $147 million. This announcement was made by founder and CEO Khing Oei. The funding follows the news of the Winklevoss twins’ company Gemini seeking a $2.2 billion valuation for its U.S. initial public offering (IPO).
Who does this affect?
This development impacts investors in Treasury and potentially those keen on digital assets, Bitcoin, and the broader cryptocurrency market. The Winklevoss twins, due to their backing, are also directly affected by this. Furthermore, it can influence other companies that may be considering similar business models or exploring blockchain-based solutions.
Why does this matter?
This matters as it signifies continued growth and confidence in the cryptocurrency market, particularly Bitcoin. The successful funding round demonstrates investor interest in companies dealing with digital currencies. It could potentially influence more companies to adopt and integrate blockchain technologies into their operations, thereby impacting the broader market trend.