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Sadot Group Inc. (SDOT) announced it has engaged Bitcoin Bancorp Inc. as strategic advisors to develop a cryptocurrency treasury strategy focused on Bitcoin allocation and risk management.
The food supply chain company said Bitcoin Bancorp will advise on creating a board-approved Bitcoin treasury policy, selecting institutional custody solutions, and establishing acquisition frameworks that maintain operational cash flexibility. The engagement includes guidance on governance structures, risk limits, and disclosure practices aligned with FASB accounting standards.
"Bitcoin’s fixed supply and deepening institutional adoption make it a compelling addition to a modern corporate treasury," said Chagay Ravid, Chief Executive Officer of Sadot Group. The company stated it intends to explore Bitcoin diversification of cash reserves while maintaining focus on its agricultural trading operations.
Eric Noveshen at Bitcoin Bancorp said the firm’s mandate involves helping Sadot evaluate allocation frameworks and implement controls meeting public company standards while preserving operational liquidity.
Sadot cited recent FASB accounting guidance ASU 2023-08, which enables fair-value treatment of cryptocurrency assets, as providing greater investor transparency. The company operates in global agricultural commodity trading, sourcing products from the Americas, Africa and Black Sea regions for delivery to Southeast Asia, China and Middle East markets.
The companies will finalize policy documents, custodian selection and operating procedures before any potential Bitcoin purchases. Sadot stated any acquisitions would require board approval and SEC disclosure compliance. The company said it does not plan token issuance, staking, lending or derivative activities.
Bitcoin Bancorp Inc. trades on OTC markets under ticker BULT and provides cryptocurrency advisory services for corporate treasury programs.