US listed company BTCS will raise $57.8 million to hoard ETH

On May 15th, according to The Block, blockchain technology company BTCS (NASDAQ: BTCS) announced an agreement with ATW Partners on Wednesday to raise up to $57.8 million through convertible bonds, all of which will be used to acquire Ethereum (ETH). The first $7.8 million bond has been issued, and the remaining $50 million will be launched in batches according to mutual agreement. BTCS Chairman and CEO Charles Allen said, "We are following MicroStrategy's strategy of accumulating Bitcoin and systematically increasing our holdings in Ethereum. '' It is reported that BTCS mainly operates Ethereum/BNBChain verification nodes, pledges encrypted assets, and provides on chain data analysis services.