Canopy Growth stock tumbles after announcing $200 million share sale plan
Investing.com -- MicroCloud Hologram Inc. (NASDAQ:HOLO) stock jumped 7% after the technology service provider announced it has purchased up to $200 million in Bitcoin and cryptocurrency-related securities derivatives.
The company reported that as of July 17, the cumulative investment income from these purchases has reached $34.67 million. MicroCloud Hologram currently holds $394 million in cash reserves, which it plans to allocate toward derivatives and technology development in fields including Bitcoin-related blockchain, quantum computing, quantum holography, and AI-powered AR.
According to the company, the Bitcoin and derivatives purchases will be incorporated into its capital reserve strategy to enhance financial stability and long-term growth potential through diversified investments. The move represents HOLO’s further exploration into the cryptocurrency sector while demonstrating its strategic vision for future business expansion.
The allocated funds of up to $200 million will primarily be used to invest in Bitcoin or other cryptocurrencies with significant market influence and growth potential, as well as related securities derivatives. These assets will become part of HOLO’s financial reserves, helping to enhance the diversity and risk resilience of its overall asset portfolio.
MicroCloud Hologram emphasized that it will continue to uphold a prudent business strategy, enhance profitability and market competitiveness, and generate greater returns for its shareholders.
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