Listed company Davis Commodities will purchase $12 million worth of Bitcoin

According to Globenewswire, Singapore based agricultural trader Davis Commodities Limited (Nasdaq: DTCK) announced that it will allocate 40% ($12 million) of its $30 million financing in stages as Bitcoin reserves, with an initial investment of $4.5 million. In addition, the company will allocate 50% of the financing ($15 million) towards the tokenization of physical assets (RWA) for agricultural products, involving commodities such as sugar and rice; The company expects this business to generate $50 million in annual revenue within two years. The remaining 10% of the funds will be used for digital infrastructure and security system construction.