A Giant Company That Operates Hotels Across Mexico and Is Listed on Nasdaq Announces It Will Invest in Bitcoin! Here Are the Details
Murano Global Investments, a Nasdaq-listed real estate company that operates hotels across Mexico, has announced that it will create a treasury strategy based on Bitcoin (BTC). The company also plans to integrate BTC as a payment method and loyalty rewards system.
Murano Builds Bitcoin Treasury with $500 Million Deal
The company, which has a market value of about $800 million, saw its stock drop just over 1% following the announcement.
Murano stated in its statement that it has signed a stock purchase agreement (SEPA) that could reach up to $500 million and that this capital will be used “primarily” for Bitcoin investment purposes.
The company stated that it will continue its current hotel and real estate development activities, but new initiatives such as allowing guests to pay with BTC or earn loyalty rewards in BTC are also being evaluated.
“We see Bitcoin not only as an asset with long-term growth potential, but also as a tool to strengthen our balance sheet against inflation and systemic risks,” said Elias Sacal, Chairman and CEO of Murano.
Murano’s move comes on the heels of its participation in the industry alliance “Bitcoin for Corporations,” launched by Michael Saylor-led Strategy (MSTR) and BTC Inc.
The company also recently announced that it purchased 21 BTC, which is worth over $2.1 million at current prices.
Murano’s move is seen as a new example of institutional companies’ growing interest in expanding their digital asset strategies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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