Eightco Holdings Inc. raises $270M for Worldcoin strategy.
Initiative involves major institutional investors.
First US company to list WLD as a reserve.
Eightco Holdings Inc. Initiates Worldcoin Strategy
Eightco Holdings Inc., now listed as ORBS, completed a $270 million private placement to adopt a Worldcoin treasury strategy, acquiring WLD as the primary reserve. The move, likened to MicroStrategy’s Bitcoin approach, involves secondary reserves in ETH and cash.
Eightco Holdings Inc. has finalized a $270 million private placement aimed at implementing a Worldcoin treasury strategy, marking its position as the first US-listed company to engage in such action.
Worldcoin Strategy and Investor Involvement
Eightco Holdings Inc. has raised $270 million in a private equity round to acquire Worldcoin (WLD) as a primary treasury reserve, with secondary reserves in Ethereum and cash. The initiative was backed by significant institutional investors.
MOZAYYX led the investment, with contributions from BitMine Immersion, Kraken, and others. Eightco’s move establishes them as the first US public entity to designate Worldcoin for their treasury reserves, echoing earlier Bitcoin-based strategies.
“The proceeds from this private placement will be used to acquire and hold Worldcoin as a primary reserve asset, while maintaining cash and Ethereum as secondary reserves,” said Dan Ives, Chairman, Eightco Holdings.
Market Reaction and Future Implications
Following the announcement, Eightco’s stock fell 13%, signaling market caution around the move. However, the initiative shows increasing confidence in cryptocurrencies as treasury assets, potentially affecting related sectors and investment strategies.
Such moves may influence financial practices, aligning with trends of adopting digital assets for reserves. Technological developments could adjust as cryptocurrencies become integrated into traditional financial frameworks, creating new opportunities and challenges.
Analysts suggest the initiative could encourage broader adoption of digital assets in US financial markets, though regulatory perspectives remain unexplored. No major reactions from regulators or industry leaders have been documented.
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