Finance, Bitcoin, Bitcoin Treasury Reserve Asset, News The company, which operates hotels across Mexico, is also exploring ways to integrate BTC as a payment and loyalty rewards program for customers.
Murano Global Investments, a Nasdaq-listed real estate firm that owns hotels across Mexico, said it’s building a bitcoin BTC treasury strategy and mulls ways to integrate the largest cryptocurrency into its operations.
The $800 million market cap company slipped a bit more than 1% in trading Monday after announcing the news.
The firm has entered into a standby equity purchase agreement (SEPA) worth up to $500 million, with plans to use the proceedings “primarily” to invest in BTC, according to a press release.
The company said it will continue to operate its hotels and real estate development businesses, while exploring initiatives such as allowing guests to pay in BTC or earn loyalty rewards denominated in it.
“We see bitcoin as a transformative asset that not only offers long-term growth potential but also strengthens our balance sheet against inflation and systemic risk,” said Elias Sacal, chairman and CEO of the company.
The firm’s announcement comes on the heels of joining the bitcoin-focused industry alliance “Bitcoin for Corporations,” led by Michael Saylor’s Strategy (MSTR) and BTC Inc. Murano also has recently purchased 21 BTC as a treasury asset, worth over $2.1 million at current prices.
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