U.S. publicly traded company Dominari Holdings invests $2 million in IBIT to implement a corporate Bitcoin strategy
ChainCatcher news, according to The Block, the publicly traded company Dominari Holdings (stock code: DOMH) with a market capitalization of $70 million has announced the implementation of a corporate Bitcoin reserve strategy. The company has utilized $2 million of its cash reserves to invest in BlackRock's iShares Bitcoin Trust ETF (IBIT).Dominari stated that it will continue to use the company's surplus cash and earnings to increase its holdings in IBIT, while also planning to further expand its cryptocurrency asset reserves by the end of the year.The report indicates that as of 2024, the company expects annual revenue of approximately $19 million, with over $8 million contributed in the fourth quarter.