Bitcoin, Ethereum and Solana are chosen for the Nasdaq company treasury
The Board of Directors of Aurora Mobile (JG), a Chinese company that lies in Nasdaq (American technological actions), approved yesterday, June 24, the creation of a strategic reserve of digital assets.
For this initiative, the marketing technology services firm Plan to invest up to 20% of its cash reserves in Bitcoin (BTC)Solana (Sol), Sui (SUI) and Ether (eth), the native currency of Ethereum. The possibility of including other tokens is not ruled out.
In this regard, Weidong Luo, executive director of Aurora Mobile, commented: “We believe that our treasury optimization strategy through investments in digital assets will improve the diversification of our portfolio, obtaining exposure to a class of emerging assets with low correlation with traditional markets.”
After the announcement was known, JG’s shares rose 4.78% in the last 24 hoursprolonging the bullish streak that began in July 2024, as seen in the following tradingview graph:
Aurora uses existing funds to create its reserve of digital assets. This is a different mechanism from that implemented by companies such as Strategy (formerly Microstrategy) or Metaplanet, among others, which are resorting to debt issuance to acquire BTC or other currencies, without the need to depend on their operational income.
