MF International Limited (MFI), a Hong Kong-based Nasdaq-listed company, announced on November 21st a $500 million private placement to create a Bitcoin Cash (BCH) corporate pool.
The company elaborated as follows: The launch of the stock market will involve the private sale of 50 million Class A shares; warrant pre-financedboth priced at $10 per share. The transaction will close on December 1st.
In this way, MFIs raise funds quickly and directly, without relying on operating profits, in a strategy similar to Strategy, which is the company with the most Bitcoin (BTC) on its corporate balance sheet.
After the news broke, BCH price recorded 6% increase in weekas seen in the following graph.
As explained in Cryptopedia, the education section of CriptoNoticias, Bitcoin Cash is a cryptocurrency that emerged in 2017 as a fork of Bitcoin. Although it shares some of the original code and transaction history up to block 478,558, This is another network created after a disagreement within the Bitcoiner community.
(Tag translation) Altcoin
