Shares of Eightco Holdings surged over 3,000% after the company announced plans to acquire and hold Worldcoin as a primary treasury reserve asset. The e-commerce inventory management platform aims to raise $250 million through a private placement of 171.23 million common shares at $1.46 each. The funds will be used to implement a Worldcoin treasury strategy, with potential secondary investments in Ether. The stock closed at $45.08, up from $1.45, after peaking at over $80 during intraday trading. Eightco's move follows a trend of non-crypto companies stockpiling cryptocurrencies, raising concerns about market saturation. The company also announced Dan Ives as the new chairman of the board, highlighting a strategic shift towards AI and digital identity verification. Worldcoin, the cryptocurrency linked to Sam Altman's digital identity project, saw a 49.2% increase in value following Eightco's announcement, trading at $1.54. The token has rebounded significantly from its all-time low earlier this year, despite being down 87% from its peak in March 2024.