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Norwegian deep-sea mining company plans to invest $1.2 billion to establish BTC reserves
Gate News bot message, according to Cointelegraph, Norwegian deep-sea mining company Green Minerals AS stated that it plans to create a BTC treasury, planning to raise $1.2 billion for long-term purchase and holding of BTC.
Green Minerals said on Monday that the plan is part of its broader blockchain strategy, aimed at diversifying the company's investments, no longer limited to legal currency coin, supporting its future project plans.
Green Minerals Chairman Ståle Rodahl stated in a declaration that BTC is an attractive alternative to traditional legal tender coins and that including it in the company's balance sheet would help reduce legal tender coin risks.
He said, "Given the future plan to invest a large amount of capital into production equipment, the plan will provide strong hedging for the devaluation of the currency."