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Bitcoin Bancorp (BULT) announced it has been retained by Sadot Group Inc. (SDOT) to develop and implement a bitcoin treasury strategy for the agricultural commodities company.
According to the press release, Bitcoin Bancorp will work with Sadot’s executive team and board to create a treasury framework that includes corporate bitcoin policy aligned with FASB ASU 2023-08 accounting standards, institutional custody solutions, risk-managed acquisition models, and ongoing treasury operations for compliance and disclosure.
"Bitcoin’s fixed supply and growing adoption by global corporations make it an attractive hedge and strategic treasury reserve asset," said Chagay Ravid, CEO of Sadot Group. "With Bitcoin Bancorp managements’ expertise, we are prioritizing governance, security, and liquidity as we explore integrating Bitcoin into our treasury operations."
The engagement positions Sadot as among the first NASDAQ-listed companies in the agricultural sector to explore bitcoin as a treasury reserve asset under a board-approved policy framework, according to the announcement.
Sadot Group operates as a global food supply chain company headquartered in Burleson, Texas, sourcing and distributing agricultural commodities including soybean meal, wheat, and corn from the Americas, Africa, and the Black Sea to markets in Southeast Asia, China, and the Middle East/North Africa.
Bitcoin Bancorp, formerly Bullet Blockchain Inc., describes itself as a digital asset advisor specializing in bitcoin treasury strategies and institutional digital asset management. The company is publicly traded on the OTC Markets.