2024-02-04 07:09:00
A Portfolio reported on it, that Megakrán’s board of directors began investigating how the company might invest its available funds in cryptocurrencies back in December. After that, the company officially announced on Thursday on the Budapest Stock Exchange (BÉT) that it has started opening related cryptocurrency accounts and placing crypto assets on them. According to last December’s announcement, it is possible to allocate up to HUF 100 million worth of cryptocurrency on these accounts, subject to compliance with the regulations and conditions specified in banking and other contracts.
Megakrán’s latest financial report revealed that at the end of June, the company had around HUF 503 million in free liquid assets. This suggests that the company might potentially invest up to a fifth of this amount in cryptocurrencies.
Megakrán Nyrt. is one of the leading companies in Hungary’s lifting technology sector, which offers comprehensive solutions and machine installation services in several parts of the country. In addition to the company’s basic services, it also deals with machine rental, safety equipment sales, structural assembly and expert services.
Why does Megakrán want to invest in cryptocurrency?
The motivations behind Megakrán’s breakthrough in the field of cryptocurrency investments, as well as the specific reasons for choosing these instruments, were still not disclosed in the announcement. However, it seems that there might be several reasons behind the move.
Strategy investment
Michael Saylor, CEO of MicroStrategy, has taken a similar approach to his company’s investment strategy. MicroStrategy attracted attention by actively allocating its excess funds to bitcoin BTC Price . Saylor emphasized every time how good a store of value and hedge once morest inflation bitcoin is. This unconventional move positioned MicroStrategy as a pioneer in corporate crypto investing. The company’s shareholders were also happy with the investment, since the company that originally specialized in IT services invested in Bitcoin, the share price has now tripled.
guerillamarketing
A notable reason to join the cryptocurrency sector is the use of guerrilla marketing. In 2017, the Long Island Tea company underwent a major rebrand and changed its name to Long Blockchain. The move was an attempt to shift toward blockchain technology — for the company that originally made soft drinks. The decision had a significant impact on the company’s stock and attracted attention in the financial and technology communities. At that time, it was enough to simply rename the company in order to obtain a significant exchange rate gain.
By delving into the world of cryptocurrencies, Megakrán is certainly navigating an increasingly developing market and potentially taking advantage of the opportunities offered by digital tools. The decision to open cryptocurrency accounts and allocate funds to this emerging asset class certainly suggests an innovative approach where the company aims to diversify its investment portfolio and adapt to the rapidly changing financial environment.
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