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**BTC Digital Ltd. (BTCT) Stock: Dips 2.31% Amid Major Shift from Bitcoin to Ethereum**
In a shocking move, BTC Digital Ltd. (NASDAQ: BTCT), a prominent blockchain player, has made the unexpected decision to pivot away from Bitcoin and focus on Ethereum, a shift that has sent shockwaves throughout the cryptocurrency market. As of today’s closing bell, shares in BTCT have dropped 2.31% to $3.39.
The company’s drastic change in strategy comes as no surprise, given the growing importance of the Ethereum ecosystem and its potential for growth. With this new direction, BTCT is poised to capitalize on the increasing demand for decentralized finance (DeFi) services, staking, and other innovative use cases built atop the Ethereum network.
According to a statement released by BTCT, the company will convert all current and future Bitcoin holdings into Ethereum as part of its revamped core strategy. This transformation aligns with emerging blockchain trends centered around Ethereum-based finance and smart contracts. The move marks a significant departure from traditional Bitcoin-centric reserve models prevalent among many companies.
As BTCT embarks on this fresh path, it has secured $6 million in financing to drive the transition forward. Additionally, the company has already amassed $1 million in Ethereum reserves, demonstrating its commitment to this new strategy.
The shift is expected to reposition BTCT as a blockchain-first enterprise with operational and financial scalability. This bold move underscores the company’s dedication to capitalizing on Ethereum’s expanding ecosystem and staking opportunities.
Despite the initial dip in stock price, investors appear optimistic about the future prospects of this transformed approach, which promises substantial growth and revenue generation through staking and DeFi services.
Source: coincentral.com
