In summary
- The actions of the Digital Advertising firm QMMM Holdings increased almost 1,750% after announcing a digital assets treasury plan.
- The firm anticipates that starting with a $ 100 million fund focused on Bitcoin, Ethereum and Solana.
- It will also seek investments with web3 infrastructure projects and “high quality cryptocurrency assets.”
The actions of the Digital Advertising firm QMMM Holdings (QMMM) fired more than 2,300% at a time on Tuesday after the company announced that it would create a treasure of digital assets of $ 100 million that would begin with Bitcoin, Ethereum and Solana.
QMMM, which is quoted at Nasdaq, closed the day changing from hands to $ 207, an increase of 1.736% from the opening bell of the day.
“The global adoption of digital assets and blockchain technology is accelerating at an unprecedented rate,” said the Bun Kwai company CEO in a statement.
“The entry of QMMM in this space reflects our commitment to technological innovation and our vision of closing the digital economy with real world applications.”
According to the announcement of QMMM, the firm anticipates that its treasure will initially begin at $ 100 million, although it is not mentioned how the company will finance the effort. A presentation of the SEC on the company’s website from January Indicates that it only had $ 497,993 in cash and cash equivalents At the end of his last fiscal year on September 30, 2024. He registered a net loss of $ 1,580,198 during the same period.
Beyond the Treasury, which according to the firm will only serve as a basis for its investment in web3, it will also seek to invest in “high quality cryptocurrencies assets with long -term growth potential, infrastructure projects of the web Ecosystem and global premium equity assets aligned with the strategic vision of QMMM”.
A company representative did not immediately respond to Decipher Application for clarification on how these additional assets can be chosen or how you would finance your treasure.
The Hong Kong -based firm also intends to expand its offers to include artificial intelligence and blockchain intelligence platforms to help investors make better decisions, administer Treasury DAO bonds, improve metal experiences and more.
“Our cryptocurrency initiatives, combined with our experience in AI and digital platforms, are designed to create sustainable value for our interested parties while reinforcing our role as a Prospective Technology Company, ”said Kwai.
Since then, the action has turned over 25% in the negotiation outside the schedule to $ 156.31.
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