GreenPro Capital, which trades on Nasdaq, today announced plans to create a Bitcoin fund.
“GRNQ believes that other leading cryptocurrencies such as Bitcoin and Ethereum will provide better return opportunities and retain the value of our capital over time relative to cash retention, ”
“We fully believe that Bitcoin is a store of value. I have instructed our investment bankers to go into borrowing to invest up to us $ 100 million in Bitcoin in the first quarter of 2021.”
The company will use its subsidiary Cryptosx to buy Bitcoin.
Following the announcement, the company’s shares soon rose more than 100 percent.
2020 was a year when companies almost attacked Bitcoin. As is known, during the year, MicroStrategy and Square, as well as numerous companies and mutual funds, had bought Bitcoin. Greenpro is the latest company to announce it will invest in Bitcoin for now.