Blue Star Capital PLC (AIM: BLU) has announced it has completed £1.25 million in funding to support a major push into the Bitcoin and crypto market through portfolio company Satoshipay Ltd.
The investment company focused on blockchain, esports and payments raised £1.15 million through placement, adding £100,000 from additional broker options, with all new shares issued for £0.18 each.
“This funding will allow Bluestar shareholders to participate in the growing global interest in companies operating in crypto-related sectors and related financial positions,” said Anthony Fabrizi. “In particular, it combines the use of financial management in the core business of Satoshipay’s long experience and use of the company, along with the additional support provided to the Vortex Project.
The £1 million revenue will be rolled out as secured loans to Satspee, specifically aimed at expanding Bitcoin and other Cryptocurrency Ministry. The loan is supported by the value of the acquired digital assets and maintains negative side protection through collateral, while providing indirect exposure to Bitcoin profits from the substar.
“The Satoshipay Committee advises that the Ministry of Finance functions will strengthen Vortex’s core products through aspects such as supporting stable swap pricing due to deepening liquidity and supporting the deployment of assets with secure Defi protocols.
By placing Bitcoin as a reserve asset for the core Ministry of Finance, Vortex aims to strengthen its presence in the crypto space. This shows an increasing number of institutional changes towards looking at Bitcoin as a strategic financial product that can boost both capital efficiency and long-term growth.
Source: https://bitcoinmagazine.com/news/blue-star-capital-secures-1-25m-for-bitcoin-and-crypto-treasury-expansion
