- iPower secures $30 million to invest in Bitcoin and Ethereum.
- Initiates a Digital Asset Treasury strategy for long-term growth.
- The move emphasizes integration of e-commerce and digital assets.
Nasdaq-listed iPower Inc. announced a $30 million convertible note financing on December 23 to establish its Digital Asset Treasury, integrating Bitcoin and Ethereum into its e-commerce platform.
This move signals iPower’s strategic pivot toward digital assets, blending traditional commerce with cryptocurrency investments, potentially influencing market perceptions of digital asset incorporation into mainstream businesses.
iPower Announces $30M Financing for Crypto Strategy
iPower’s announcement marks a pivotal shift towards incorporating digital assets into commerce. Lawrence Tan, CEO of iPower, described this financing as a strategic alignment with the company’s long-term growth goals and bridge to digital asset integration.
Changing the current landscape, this initiative focuses resources on digital asset acquisitions, allocating 80% of future tranches for similar investments. The strategy suggests a shift for iPower from traditional e-commerce towards leveraging blockchain infrastructure, potentially driving operational efficiencies.
“This financing strengthens our capital structure with long-term aligned capital, giving us the flexibility to execute a durable growth strategy. Our Digital Asset Treasury is designed to be a strategic bridge between e-commerce and digital assets. By combining our platform capabilities, operating experience, and ecosystem relationships, we are focused on integrating digital assets into everyday commerce in a way that supports real economic activity and long-term value creation, rather than short-term speculation.” source
Bitcoin Reaches $87K as Investment in Cryptos Grow
Did you know? The decision by iPower to allocate substantial funds towards Bitcoin mirrors a historical precedent where major companies, like Tesla in early 2021, similarly channeled capital into digital assets, impacting both market perceptions and operational frameworks.
Bitcoin (BTC) currently trades at approximately $87,372.63, with a market cap of $1.74 trillion and a 59.08% market dominance, as per CoinMarketCap. Its trading volume in the last 24 hours is over $43.33 billion, marking a 20.06% change. Recent statistics show a minor 0.06% price improvement in the past week, despite a significant decline over longer periods, indicating potential market volatility.
The Coincu research team projects various potential outcomes for iPower’s strategic pivot. Financial and technological advancements could emerge from increased capital flow into digital assets. Over time, regulatory frameworks may evolve to accommodate such innovations, influencing broader market adoption and possibly spurring other companies to adopt similar strategies.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
No tags available.
Other Posts
- Amplify 2024: Ohio’s Premier Blockchain Summit
- Polymarket Announces U.S. Beta Relaunch Amid Market Buzz
- U.S. Treasury Proposes New Tax Relief Regulations
- Radiant Capital Faces $50M Loss in Major Security Breach
- SEGG Media Unveils $300 Million Crypto Reserve Plan
- 21Shares Files S-1 With SEC to Launch Hyperliquid ($HYPE) ETF
- Hong Kong Sentences Influencer for Unlicensed Investment Advice
- Franklin Templeton Signals TradFi and Crypto Integration
- Michael Saylor Denies Bitcoin Sell-Off Amid Large BTC Transfer
- Circle Mints $500 Million USDC on Solana Blockchain
- Circle Focuses on Expanding USDC Use in Hong Kong
- Western Union Trials Stablecoin System for Remittance Innovation
- GMGN Completes Compensation for MEV-Affected Users
- Kevin Hassett Emphasizes Fed’s Independence Amid Trump’s Rate Suggestion
- Is MetaMask Preparing for Its Long-Awaited MASK Token Airdrop?
- BitMine Expands Ethereum Holdings to $13B With Major Weekly Purchase
- China, US Conclude Trade Talks with Focus on Cooperation
- U.S. House Passes Temporary Funding Bill for Continued Operations
- DeXe Protocol Begins Trading on Aster Platform
- Federal Reserve Reaffirms Neutral Stance on Cryptocurrencies
- Amplify 2024: Ohio’s Premier Blockchain Summit
- Polymarket Announces U.S. Beta Relaunch Amid Market Buzz
- U.S. Treasury Proposes New Tax Relief Regulations
- Radiant Capital Faces $50M Loss in Major Security Breach
- SEGG Media Unveils $300 Million Crypto Reserve Plan
- 21Shares Files S-1 With SEC to Launch Hyperliquid ($HYPE) ETF
- Hong Kong Sentences Influencer for Unlicensed Investment Advice
- Franklin Templeton Signals TradFi and Crypto Integration
- Michael Saylor Denies Bitcoin Sell-Off Amid Large BTC Transfer
- Circle Mints $500 Million USDC on Solana Blockchain
- Circle Focuses on Expanding USDC Use in Hong Kong
- Western Union Trials Stablecoin System for Remittance Innovation
- GMGN Completes Compensation for MEV-Affected Users
- Kevin Hassett Emphasizes Fed’s Independence Amid Trump’s Rate Suggestion
- Is MetaMask Preparing for Its Long-Awaited MASK Token Airdrop?
- BitMine Expands Ethereum Holdings to $13B With Major Weekly Purchase
- China, US Conclude Trade Talks with Focus on Cooperation
- U.S. House Passes Temporary Funding Bill for Continued Operations
- DeXe Protocol Begins Trading on Aster Platform
- Federal Reserve Reaffirms Neutral Stance on Cryptocurrencies
- Amplify 2024: Ohio’s Premier Blockchain Summit
- Polymarket Announces U.S. Beta Relaunch Amid Market Buzz
- U.S. Treasury Proposes New Tax Relief Regulations
- Radiant Capital Faces $50M Loss in Major Security Breach
- SEGG Media Unveils $300 Million Crypto Reserve Plan
- 21Shares Files S-1 With SEC to Launch Hyperliquid ($HYPE) ETF
- Hong Kong Sentences Influencer for Unlicensed Investment Advice
- Franklin Templeton Signals TradFi and Crypto Integration
- Michael Saylor Denies Bitcoin Sell-Off Amid Large BTC Transfer
- Circle Mints $500 Million USDC on Solana Blockchain
- Circle Focuses on Expanding USDC Use in Hong Kong
- Western Union Trials Stablecoin System for Remittance Innovation
- GMGN Completes Compensation for MEV-Affected Users
- Kevin Hassett Emphasizes Fed’s Independence Amid Trump’s Rate Suggestion
- Is MetaMask Preparing for Its Long-Awaited MASK Token Airdrop?
- BitMine Expands Ethereum Holdings to $13B With Major Weekly Purchase
- China, US Conclude Trade Talks with Focus on Cooperation
- U.S. House Passes Temporary Funding Bill for Continued Operations
- DeXe Protocol Begins Trading on Aster Platform
- Federal Reserve Reaffirms Neutral Stance on Cryptocurrencies
Latest
South Korean Retail Investors Shift Amid Bitcoin’s Price Surge
Russia Proposes New Cryptocurrency Investment Rules for Investors
Press Release
THORChain Launches Native Cross-Chain Swap Interface in Public Beta
GeeFi’s (GEE) Phase 3 Already Sold 10%, Top Traders Shift From Tron’s (TRX) Slow Recovery
