Shares of Robin Energy Ltd. (NASDAQ:RBNE) surged 100% after the company confirmed it had finalized its initial $5 million Bitcoin allocation through Anchorage Digital Bank N.A.
This move follows an announcement on August 5 and forms part of Robin Energy’s recently adopted treasury strategy. The global ship-owning and energy transportation company indicated it will continue to monitor cryptocurrency markets and may adjust its allocation in line with its Bitcoin treasury plan.
“We are pleased to have completed the allocation of $5 million to Bitcoin in accordance with our board-approved strategy. We believe in Bitcoin’s unique characteristics as a scarce digital asset and see it as an integral component of our long-term strategy to grow our Company further and drive shareholder value,” said **Petros Panagiotidis, Chairman and CEO of Robin Energy.
The decision to invest in Bitcoin reflects Robin Energy’s strategic effort to diversify its treasury holdings. The company joins a growing list of publicly traded firms incorporating digital assets into their financial strategies.
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