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Investing.com -- Murano Global Investments Plc (NASDAQ:MRNO) stock fell 3.6% after the company announced plans to build a Bitcoin Treasury alongside its core real estate and Mexican hospitality business operations.
The company revealed it has already purchased 21 Bitcoins as part of this new initiative and joined "Bitcoin for Corporations," an industry alliance focused on corporate Bitcoin adoption, as a "Chairman’s Circle Member." Murano plans to leverage its operating cash flows, real estate holdings, and capital market access to build what it calls a "robust Bitcoin Treasury."
Elias Sacal, Murano’s Founder, Chairman and CEO, stated the company views Bitcoin as a "transformative asset that not only offers long-term growth potential but also strengthens our balance sheet against inflation and systemic risk."
As part of its strategy, Murano is exploring accepting Bitcoin as payment at its hospitality properties and implementing Bitcoin reward programs. The company is also considering sale-leaseback transactions for some real estate assets to increase liquidity for additional Bitcoin investments.
The company noted it has entered into a Standby Equity Purchase Agreement with Yorkville for up to $500 million, with proceeds potentially directed toward Bitcoin purchases. Cohen & Company Capital Markets is serving as Murano’s exclusive financial and strategic advisor for the Bitcoin Treasury initiative.
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