Wen Lambo? Jaguar, Land Rover Customizer Revs Up Bitcoin Strategy
ECD Automotive Design, Inc. has secured $500 million to acquire and store Bitcoin in its corporate treasury. The Florida-based car restoration company signed an equity facility agreement with ECDA Bitcoin Treasury LLC. This funding will primarily support the establishment of its Bitcoin treasury, with some proceeds allocated for general corporate initiatives. ECD aims to diversify its treasury strategy with Bitcoin, as stated by CFO Ben Piggott. The company is also enhancing its engagement with the cryptocurrency community, having partnered with BitPay for crypto payments. ECD plans to offer $21,000 credits in vehicle upgrades to the first 21 customers purchasing vehicles with Bitcoin. Currently, 243 public companies hold Bitcoin, reflecting a 13% increase in the past month. Bitcoin is trading at $102,961.
