Nasdaq-enlisted financial services firm, Siebert Financial Corp., broke the news on Monday that the U.S. Securities and Exchange Commission has approved its S-3 shelf registration statement. This green light sets the stage for the company to amass up to $100 million to be channeled into cryptocurrency, AI, and potential acquisitions.
In the disclosed statement, Siebert Financial expressed its intention to direct the raised funds towards “strategic initiatives”. These include the procurement of digital assets such as Bitcoin, Ethereum, and Solana. Additionally, the company is set to invest in tech advancements, with a particular focus on AI-driven services.
“Our shelf registration is a pivotal move in expanding our technology strategy,” stated John Gebbia, Siebert’s CEO. “We are generating the extra capital access required to act swiftly in vital areas like AI, digital assets, and innovation that will shape the future of financial services.”
The firm further clarified that the S-3 registration is a preliminary phase in their plan to raise up to $100 million via the sale of various securities. This move places Siebert among a growing number of companies striving to enhance their crypto asset portfolios.
Strategy, headed by Michael Saylor, still holds the title for the largest public corporate holder of Bitcoin. The company recently confirmed the purchase of an additional 1,045 BTC, amounting to approximately $110.2 million. This acquisition has boosted its total holdings to a whopping 582,000 BTC.
In the past few weeks, K33, Trump Media, and GameStop have disclosed plans to expand or establish their Bitcoin reserves. Concurrently, Japan’s Metaplanet announced a $5.4 billion equity offering last week to fund further Bitcoin acquisitions.
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