Greenpro Announces Bitcoin Fund
Greenpro Capital Corp. (NASDAQ:GRNQ) announced plans to establish a Bitcoin fund aimed at capitalizing on mass adoption of cryptocurrencies. The company intends to raise up to $100 million in debt during Q1 2021, alongside its own cash investment in Bitcoin. CEO CK Lee emphasized Bitcoin's potential as a stable store of value, aligning with the company's diversified business model that includes incubation, satellite, and AI accounting services. The fund will be managed through its subsidiary, CryptoSX, which operates a compliant crypto exchange in Asia.
- Establishment of a Bitcoin fund indicates strategic alignment with digital assets.
- Intention to raise up to $100 million for investment in Bitcoin could enhance financial growth.
- CEO's belief in Bitcoin as a reliable store of value may attract investor confidence.
- Dependence on debt financing may raise concerns regarding financial stability.
- Market volatility of Bitcoin and other cryptocurrencies poses inherent risks to investment.
KUALA LUMPUR / ACCESSWIRE / December 28, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it intends to set up a Bitcoin ($BTC) Fund for investment.
GRNQ announced today that it believes in the ongoing mass adoption of $BTC by banks, hedge funds, insurance companies and institutions and endorses its belief that bitcoin, as the world's most widely-adopted cryptocurrency, is a reliable future store of value. We believe the strategic management of our balance sheet, combined with the implementation of our $BTC Fund and crypto strategy will produce significant future value for the Company. GRNQ believes that $BTC and other top crypto currencies such as Ethereum "ETH" will provide the opportunity for better returns and preserve the value of our capital over time rather than holding cash. We also remain committed to our incubation business model as well as our satellite and A.I. accounting businesses."
GRNQ's CEO, CK Lee recently received an Honorary PhD in Finance and Crypto currencies from Rivera University, located in France.
Greenpro CEO CK Lee said, "We fully believe in $BTC as a store of value. I've instructed our investment bankers to raise debt in Q1, 2021 of up to US
The Company will use its subsidiary, CryptoSX to acquire its $BTC stake.
About CryptoSX
With the empowerment of world-leading technologies, CryptoSX is building a cutting edge crypto exchange platform for STOs backed by Fiat/Crypto conversion capabilities. They are significantly involved in assisting companies in STO primary listings, STO secondary trading and to develop and launch a substantial decentralized finance "DeFi" business, including crypto lending. CryptoSX is compliant with all of the applicable financial and virtual exchange policies and regulations of the Philippine government under CEZA (Cagayan Economic Zone Authority). CryptoSX was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX has been working very closely with CEZA to further develop and enhance the STO listing procedures, compliance and reporting requirements. It is one of the very few exchanges that is operating with such a relevant license in Asia.
For more information on CryptoSX please visit: www.cryptosx.io
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur, Greenpro Capital Corp. (Nasdaq: GRNQ), a Nevada corporation, with strategic offices across Asia, is a business incubator with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
SOURCE: Greenpro Capital Corp.
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