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Investing.com -- Marti Technologies Inc (NYSE:MRT) stock fell 6.7% after the Turkish mobility super app announced plans to hold approximately 20% of its cash reserves in Bitcoin as part of a new corporate treasury strategy.
The company, which operates Türkiye’s leading mobility platform, said it has the ability to increase its crypto asset holdings to up to 50% of cash reserves and may also purchase other digital assets including Ethereum and Solana. All digital assets will be held through a regulated, institutional-grade custodian in compliance with applicable laws.
"Our decision to allocate capital to crypto assets acknowledges our belief that Bitcoin and other digital assets have proven their ability to store value alongside hard currencies and gold over the last several years," said Oguz Alper Oktem, Founder and CEO of Marti. "We believe this strategy represents a prudent approach to treasury management, particularly in the current economic environment which carries both inflationary and hard currency risks."
Marti joins a growing list of publicly traded companies incorporating digital assets into their treasury strategies. The company indicated it intends to be a long-term holder of crypto assets and may add to its position over time.
The company stated that this initiative is not expected to impact its current business activities or execution of business plans. Material acquisitions of digital assets will be disclosed in future announcements as required by law.
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