Following Bitcoin and Ethereum, the treasury strategy for altcoins continues to grow. Investment news continues to arrive for Toncoin (TON), one of the altcoins that has recently gained traction.
The latest news on this point comes from Nasdaq-listed company AlphaTON Capital, formerly known as Portage Biotech Inc., which has been renamed AlphaTON Capital.
According to an official statement, AlphaTON Capital has launched a plan to acquire approximately $100 million worth of Toncoin and create a TON-focused digital asset treasury.
The company will focus on TON token reserves, network verification, and ecosystem project incubation, encouraging the development of Telegram ecosystem applications.
The statement stated that the company is currently in the financing collection phase and TON purchases have not yet begun.
Although the exact date was not given, it was stated that TON purchases will be made gradually and are planned to be completed in 2025.
Despite this massive buying news, no significant movement was seen on the TON price chart.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/nasdaq-listed-company-announces-100-million-purchase-of-surprise-altcoin-but-price-remains-unresponsive/
