This Bitcoin-backed company is betting retiring founders will swap private stock for their life’s work
Orange Juice Holdings is a new Connecticut permanent-capital holding company founded by Jeff Booth, Lyn Alden, Nico Lechuga, Andi Pitt, Adrian Steckel, with Ruben Zweiban running operations and Ricardo Salinas as anchor investor. It raised $40 million to buy and permanently own cash-flowing U.S. businesses earning $1 million to $10 million annually, using a mix of cash and Orange Juice stock for seller payouts. Unlike a pure Bitcoin treasury firm, it also wants operating businesses to generate cash flow that can fund more acquisitions and Bitcoin purchases. The model depends on a future public listing so its stock can serve as acquisition currency. That creates risk for sellers: they may receive minority equity in a private holding company whose value depends on business performance, market valuation, and Bitcoin prices. If Bitcoin falls, deals underperform, or the stock fails to trade at a premium, sellers will likely demand more cash, weakening the acquisition flywheel.
