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Home BlockchainBitcoin Treasury Company GD Culture May Sell BTC to Buy Back Shares
Blockchain

Bitcoin Treasury Company GD Culture May Sell BTC to Buy Back Shares

by Decrypt
written by Decrypt 0 comments
Bitcoin Treasury Company GD Culture May Sell BTC to Buy Back Shares

In brief

  • GD Culture earned board approval to sell some of its 7,500 Bitcoin in order to fund a $100 million share buyback plan.
  • Shares rose 15% amid the news, but are still down 60% from its 52-week high.
  • The firm accumulated the 7,500 BTC as part of an acquisition last fall.

Publicly traded artificial intelligence and livestreaming firm GD Culture approved the sale of some of its 7,500 Bitcoin, or around $518 million worth, as part of its effort to fund a new share repurchase program, the firm…

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