Robin Energy Adopts Bitcoin As Primary Treasury Asset, Allocates Initial $5M With Plan To Reach 50% Of Cash Reserves
Benzinga · 07/31 13:16
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Robin Energy Ltd. (NASDAQ:RBNE) ("Robin Energy" or the "Company"), an international ship-owning company providing energy transportation services globally, announced today that its Board of Directors has unanimously endorsed Bitcoin as a primary treasury reserve asset and has authorized an immediate allocation of $5 million to be executed through a measured, institutional-grade implementation approach.
The above allocation comes as part of the newly adopted comprehensive Bitcoin treasury framework targeting up to 50% of its long-term cash reserves, with any potential purchases beyond the initial allocation to be deployed to Bitcoin through disciplined dollar-cost averaging.
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