CMC News

#BitDigital Swaps Entire Treasury for $ETH in $173 Million Corporate Strategy Shift

Bit Digital has converted its complete corporate treasury from $BTC to $ETH in a major strategic pivot.

The Nasdaq-listed company now holds over 100,000 $ETH after liquidating 280 $BTC worth $30 million.

CEO Sam Tabar cited #Ethereum's programmable #blockchain and staking model as key drivers for the switch.

The firm used $173 million from recent equity raises to fund the massive #treasury conversion.

Bit Digital's stock surged 21% to $3.50 following the announcement of its $ETH strategy.

The company joins a growing trend of firms adopting Ethereum-focused treasury strategies over $BTC.

Tabar says the firm aims to become "the preeminent $ETH holding company in the world" through aggressive accumulation.

$ETH leads blockchain-powered real-world assets with over $4.6 billion in tokenized securities.

Bernstein analysts anticipate a major wave of equity #tokenization driving institutional $ETH adoption.