Cyprus-based worldwide ship-owning agency Robin Power right this moment introduced the profitable conclusion of its preliminary $5 million Bitcoin (BTC) allocation via Anchorage Digital Financial institution N.A., as a part of its newly adopted treasury framework.
Robin Power Buys $5 Million Price Of Bitcoin
Based on an announcement made earlier right this moment, Robin Power has accomplished its preliminary $5 million price of BTC buy. With this, the Cyprus-based firm, which additionally gives power transportation providers has turn out to be the newest agency to leverage digital property to diversify its portfolio.
Following the event, the agency’s Nasdaq-listed inventory RBNE spiked 90%, hitting an intraday excessive of $4.27 earlier than dropping a few of its beneficial properties. On a year-to-date (YTD) foundation, the inventory has elevated by 106.8%.
It’s price noting that RBNE hit its all-time excessive (ATH) earlier this yr on June 13. Nevertheless, no particular purpose could be discovered for a similar. Commenting on right this moment’s Bitcoin buy, Petros Panagiotidis, CEO, Robin Power, stated:
We’re happy to have accomplished the allocation of $5 million to Bitcoin in accordance with our board-approved technique. We imagine in Bitcoin’s distinctive traits as a scarce digital asset and see it as an integral part of our long-term technique to develop our Firm additional and drive shareholder worth.
Robin Power’s foray into the cryptocurrency realm isn’t a surprise, as an rising variety of companies are selecting so as to add main digital property like BTC and Ethereum (ETH) to their stability sheets in 2025.
For instance, Taiwanese funding agency Sora Ventures just lately unveiled a large $1 billion Bitcoin treasury fund, a primary in Asia. On the time, the agency said that it could use the proceeds from the fund to purchase BTC over the subsequent six months.
Equally, Japanese funding agency Metaplanet additionally shared plans to double down on BTC just lately. Particularly, the agency said that it’s going to spend as a lot as $835 million to purchase extra Bitcoin.
Unsurprisingly, the overall quantity of BTC held by publicly-listed corporations just lately crossed a million. Amongst these corporations, US-based Technique ranks on the high because it alone holds near 638,000 BTC on its stability sheet.
ETH, A Worthy Challenger To BTC?
Though Bitcoin’s dominance and adoption price are unquestionable, it seems to be getting severe competitors from the second-largest cryptocurrency by market cap, Ethereum. In 2025 particularly, ETH adoption has surged at an unprecedented tempo.
Asset supervisor VanEck CEO, Jan van Eck, just lately dubbed ETH the “Wall Road token,” due to its unimaginable vary of use-cases, together with facilitating stablecoin transactions on the Ethereum blockchain.
Equally, August 2024 noticed ETH-based exchange-traded funds (ETFs) entice $4 billion price of web inflows, whereas Bitcoin ETFs witnessed web outflows to the tune of $628 million. At press time, BTC trades at $113,930, up 2.7% prior to now 24 hours.
Featured picture from Unsplash.com, charts from Yahoo! Finance, Coingecko, and TradingView.com
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