Crypto firm BTCS jumps on plan to raise $100 million to buy ethereum
Shares of crypto firm BTCS BTCS.O jump 6.8% to $2.99 premarket
BTCS announces intent to raise $100 million in 2025 to buy crypto token ethereum ETH=
Planned capital raise will consist of at-the-market equity sales, convertible debt issuance, and on-chain borrowing via lending platform Aave, among other means
BTCS held 14,600 ETH as of June 20, according to its website
"We believe that ethereum has significant growth potential and is central to the future digital financial infrastructure. Now, with ethereum at 2021 price levels, is the time to deepen our exposure" - CEO Charles Allen
ETH has fallen 22.7% so far this year
Lone analyst covering the stock rates it "buy" and has $5 PT - data compiled by LSEG
As of last close, BTCS stock was up 13.4% YTD
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