Brazilian Bitcoin reserve company OranjeBTC joins the buyback trend, temporarily suspends BTC purchase plans
Jinse Finance reported that OranjeBTC, the largest bitcoin reserve company in Brazil, has repurchased 99,600 shares of its own stock at a cost of approximately $220,000 (1.12 million reais), and announced a delay in additional bitcoin purchase plans. The company currently holds 3,708 bitcoins, valued at about $409 million. This move aims to narrow the gap between its market price and the net asset value (NAV) of its bitcoin holdings. OranjeBTC has joined a wave of digital asset reserve companies supporting their share prices through buybacks, including ETHZilla, Metaplanet, Sequans, and Empery Digital.
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