As part of its strategy, Panther Metals will allocate £1.3 million ($1.7 million) from its bitcoin reserve as collateral for a loan, which will be used to acquire the Pick Lake deposit in Canada. The company has partnered with CoinCorner for treasury services and appointed Evoke Solutions as a consultant.
Panther Metals shares soar as firm unveils bitcoin treasury strategy. TradingView. According to the company, accumulating bitcoin and leveraging its liquidity for loans will accelerate Panther’s business growth, with plans to expand its digital asset treasury further. Management also hinted at using cryptoassets for future acquisitions of mining rights and potentially precious metals.
“In today’s inflationary and unstable capital market environment, bitcoin offers unique protection against fiat currency risks,” commented CEO Darren Hazelwood. The market welcomed the announcement, with Panther Metals (PALM) shares climbing 10% intraday and posting a five-day gain of 73% on the London Stock Exchange.
The move echoes recent recommendations from cypherpunk and crypto thought leader Adam Back, who has advocated for investing in bitcoin or shares of companies managing robust bitcoin treasuries as an alternative to altcoins.