Metavesco, Inc. (OTC: MVCO), a publicly traded diversified holding company, has announced an expansion of its digital asset portfolio by acquiring additional Bitcoin (BTC) and Ethereum (ETH). This move underscores the company's commitment to a high-conviction digital asset strategy, with Bitcoin and Ethereum at its core. The company purchased an additional 10 ETH at an average cost of $4,410 each and 1 BTC at $119,110, further solidifying its position in what it considers two of the most pivotal digital assets globally.
Ryan Schadel, CEO of Metavesco, emphasized the company's belief in Bitcoin as a digital gold and a store of value, while Ethereum is seen as the future infrastructure of traditional finance, especially as blockchain technology gains traction in tokenizing securities. Schadel's comments highlight the company's view of these investments as generational opportunities, with a readiness to increase exposure when market conditions are favorable.
Metavesco's Bitcoin treasury strategy benefits from its substantial hashing power, with costs as low as roughly $55,000 per Bitcoin, a significant discount to current market prices. The Ethereum position, initiated earlier this year, is part of a strategy to capitalize on anticipated institutional adoption over the coming years. The company's approach to digital assets is designed to acquire high-conviction assets at favorable prices, hold them as long-term reserves, and drive shareholder value.
The newly acquired BTC and ETH positions are currently considered speculative and not part of the long-term treasury. These positions were established using long-term decentralized futures contracts and will be closely monitored, with the possibility of exiting if market dynamics suggest a need for risk reduction. Metavesco plans to provide further updates on its treasury strategy as new market opportunities arise.
For more information on Metavesco's digital asset strategy and other investments, visit https://www.otcmarkets.com.
