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I just saw that Cango is starting to sell its Bitcoin holdings. The reason? They need money to pay off debts and to kick off an AI transformation project. The timing is quite interesting considering the current market situation.
I think this reflects the challenges faced by many crypto companies today. They need to pivot, innovate, but money is the problem. That's why Bitcoin stash is becoming the solution.
Is the amount they're selling large? How will this affect the market? Curious about how big this AI investment is. It seems like a desperate move, but maybe it's strategic? 🤔