Coinsilium Group Limited, a publicly listed UK Web3 venture builder, has announced a successful fundraise of £1.25 million to implement a Bitcoin-based treasury strategy.
Coinsilium Group Limited, a British enterprise focused on Web3 ventures and publicly listed on the London Stock Exchange, has completed a substantial fundraise of £1.25 million. The oversubscribed placing involved the issuance of 41.6 million new shares at a price of 3 pence each.
As disclosed in a statement on Monday, the net proceeds of the fundraising will be channeled through Coinsilium’s wholly owned subsidiary, Forza (Gibraltar) Limited, to support various activities, including investments, Bitcoin accumulation, and general working capital.
The company’s intent to adopt a Bitcoin treasury strategy and raise funds accordingly was initially announced back in March. This move aligns Coinsilium with a broader trend of corporate entities, such as Masa Son’s SoftBank and Ark Invest, incorporating Bitcoin into their treasury frameworks. These entities are increasingly seeking new avenues for capital preservation and generating returns in an evolving economic landscape.
In other recent cryptocurrency news, Anthony Scaramucci, the founder of Scaramucci, has made a bold prediction that Bitcoin could soar to $240,000 by the end of 2025, and Balenciaga has announced its foray into the metaverse with the launch of an NFT collection.
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