BitDigital "Sold all Bitcoin and bought Ethereum"···Stock price up 20%

After selling approximately 280 BTC and purchasing over 100,000 ETH, "Accumulating due to ETH's Potential to Reshape Financial System" Announcement

BitDigital has sold all of its Bitcoin (BTC) holdings and strategically acquired over 100,000 Ethereum (ETH). Its stock price rose nearly 20%, breaking through a market capitalization of $1 billion (approximately 1.3 trillion won).

Nasdaq-listed BitDigital announced on the 7th that it sold 280 Bitcoins and used the proceeds along with $172 million (approximately 220.1 billion won) raised from its IPO to purchase over 100,000 Ethereum.

According to CoinGecko, BitDigital's Ethereum holdings currently amount to $254 million (approximately 330 billion won), making it the second-largest among listed companies after Coinbase.

BitDigital explained that the full sale of Bitcoin and focused purchase of Ethereum was based on the profitability of each coin's direction. CEO Sam Tabar emphasized that "Ethereum is a programmable asset with long-term potential to reshape the financial system".

BitDigital noted that Ethereum's annual staking yield reaches approximately 4-6.5%.

Following the announcement, BitDigital's stock price rose nearly 20%. After revealing its Ethereum transition strategy, its market capitalization surpassed $1 billion (approximately 1.3 trillion won). Amid growing institutional investor interest in Ethereum-based assets, this large-scale direct acquisition is attracting investor attention.

Reporter Jung Ha-yeon yomwork8824@blockstreet.co.kr