Solidion Technology, Inc. (NASDAQ: STI), a number one provider of advanced battery materials, has announced a major strategic allocation of Bitcoin inside its corporate treasury. This move positions Solidion alongside other distinguished US firms resembling MicroStrategy, Tesla, Block (formerly Square), Semler Scientific, Coinbase, Riot Platforms, and Marathon Digital Holdings, all of which have integrated BTC into their treasury strategies.
Solidion Makes MicroStrategy-Style Bitcoin Move
In a press release dated November 14, 2024, Solidion Technology detailed its decision to allocate a considerable portion of its excess money reserves to Bitcoin. The corporate plans to commit 60% of any excess operational money to BTC purchases, convert interest earnings from money market accounts into Bitcoin, and designate a portion of future capital raises for long-term BTC acquisitions.
Vlad Prantsevich, CFO of Solidion Technology, stated, “We consider strongly in Bitcoin’s transformative potential for the economic system, and we see our allocation as each a secure store of value and compelling investment.”
He further emphasized the impact of recent regulatory developments, noting, “With the Security and Exchange Commission’s recent approval of spot BTC ETFs, we’ve already seen significant steps toward institutional acceptance. Moreover, we anticipate Bitcoin’s next evolution might be widespread adoption as a reserve asset by each sovereign nations and corporations, creating substantial value and long-term upside potential for Bitcoin because it gains further global acceptance.”
Solidion’s core business stays focused on developing and commercializing high-capacity silicon anode materials, including non-silane gas-based and graphene-enhanced versions for automakers and energy storage applications. The corporate boasts an in depth portfolio of over 550 patents, covering innovations in advanced battery technologies.
In line with the press release, the choice to include BTC into its treasury strategy aligns with a broader trend of corporate adoption driven by Bitcoin’s repute as “digital gold” and its potential as an inflation hedge. The election of the Trump administration has further cemented the choice.
“The recent election results have brought significant attention to Bitcoin, with a recent administration known for its pro-BTC stance and support for a Strategic Bitcoin Reserve. The potential for favorable regulatory frameworks and increased institutional adoption, highlighted by the recent wave of Bitcoin ETFs, underscores BTC’s value proposition and makes it an excellent asset for corporate treasuries looking for inflation-resistant stores of value”, the corporate states.
While the vast majority of the BTC community has applauded the choice by Solidion Technology, some commentators say that it looks “very desperate, however the hail mary might save them.” The STI share price is down -95% year-to-date.
Interestingly, Solidion might try a similar move like Japanese firm Metaplanet. The firm dubbed “Japanese MicroStrategy” lost 98% of its share price from 2006 before announcing its BTC treasury strategy in May this 12 months. Since then, Metaplanet share price is up greater than 500%.
At press time, BTC traded at $89,300.
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