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Investing.com -- CDT Equity Inc. (NASDAQ:CDT) stock surged 36% Wednesday after the company announced the strategic acquisition of 8.65 Bitcoin (BTC) for $1 million, representing an average price of $115,285 per BTC.
The purchase, which includes fees and expenses, marks a significant step in CDT’s treasury reserve strategy aimed at strengthening its financial position and balance sheet resilience. The company’s shares jumped as investors responded to this move into digital assets.
James Bligh, Chief Financial Officer of CDT, stated, "We are pleased to execute the definitive step in our cryptocurrency-based treasury reserve strategy, which is designed to diversify the Company’s balance sheet and reinforce its innovation-led business model."
The company indicated that the Bitcoin acquisition aligns with accelerating institutional adoption of digital assets within an evolving regulatory environment that is increasingly enabling broader acceptance of cryptocurrencies.
CDT’s management noted they continue to evaluate their asset allocation to optimize the treasury portfolio and shareholder returns. The Bitcoin purchase represents the company’s first reported entry into cryptocurrency holdings as part of its treasury strategy.
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