Neptune shares rise 40% after securing $20m credit line to buy more Bitcoin
## Neptune Digital Assets Soars 40% After Securing $20M Bitcoin-Backed Loan
Canadian crypto infrastructure provider Neptune Digital Assets Corp. (NDA) saw its shares skyrocket 40% after securing a $20 million credit facility from Sygnum Bank. The loan, collateralized by Neptune’s existing Bitcoin holdings, will be used to expand its Bitcoin stash, acquire other crypto assets, and fund strategic investments.
CEO Cale Moodie highlighted the loan’s flexibility and the security offered by Swiss banking protections. He emphasized that this strategic move strengthens the company’s balance sheet without diluting shareholder value through equity issuance.
Sygnum Bank expressed confidence in Neptune’s growth strategy. The news sent Neptune’s OTCMarkets share price to a record high of $1.15. The company also trades on the TSX Venture Exchange.
This surge follows a trend of publicly traded companies increasing their Bitcoin holdings, fueled by the current pro-crypto administration. This is further evidenced by Oxbridge Re Holdings’ recent announcement of adding Bitcoin and Ethereum to its treasury reserves.
Read original article
