ETHZilla has sold $74.5 million worth of Ethereum to repay its debt, marking the company's second significant ETH sale in four months. This move comes as part of a strategy shift that includes halting Bitcoin purchases and increasing cash reserves to $2.19 billion. The decision follows a 30% drop in Bitcoin prices since October, adding pressure on firms in the crypto space.
Michael Saylor has allocated $1.4 billion for interest and dividends amid the market's volatility. As Bitcoin's price decline continues, investors are increasingly focusing on altcoins, seeking opportunities in a market characterized by growing uncertainty.
ETHZilla Sells $74.5M in Ethereum to Repay Debt, Pauses Bitcoin Purchases
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
