Mercurity Fintech Holding, a Nasdaq-listed digital fintech company specializing in blockchain-based payment infrastructure, announced plans to raise $800 million to create a long-term Bitcoin treasury reserve.

The shift follows a trend in which corporations are using cryptocurrency in their financial strategies.

On Wednesday, Mercurity announced its plans in a statement to incorporate the Bitcoin reserve into its digital reserve platform by utilizing blockchain-native custody, staking integrations, and tokenized treasury management services.

Corporate Bitcoin Holdings Surge Globally

The firm added that a portion of its treasury would move into a “yield generating, blockchain-compatible reserve framework” aimed to increase long-term exposure to assets and improve the resilience of its balance sheet.

Shi Qiu, CEO of Mercurity Fintech, emphasized the strategic vision behind the initiative, stating:

“We’re building this Bitcoin treasury reserve based on our belief that Bitcoin will become an essential component of the future financial infrastructure.”

Should the capital raise be successful, the 800 million capital increase would enable Merurity to purchase around 7,433 BTC at the current market rates. This purchase would make Mercurity the 11th largest corporate Bitcoin holder in the world, ahead of GameStop with its 4,710 BTC, and right behind Galaxy Digital Holdings, according to data from Bitbo.

Mercurity Fintech Plans $800M Bitcoin Treasury Reserve

This news is a part of an increasingly larger trend of rising institutional adoption of Bitcoin, as data indicates that there are currently at least 223 publicly traded companies holding Bitcoin on their corporate balance sheets, compared to 124 companies on June 5.

These companies jointly possess more than 819,000 BTC, or about 3.9 percent of the total supply of Bitcoin, BitcoinTreasuries.NET shows.

Mercurity Fintech Plans $800M Bitcoin Treasury Reserve

A Binance Research spokesperson described the recent explosion in corporate acceptance of Bitcoin as a long-term investment strategy by referring to balance sheet strategy, treasury diversification, and capital-raising activity as the main forces behind it.

Altcoins are also gaining institutional interest. Nasdaq-listed fitness equipment maker Interactive Strength announced its intentions to sell up to half a billion dollars worth of stock to create a treasury reserve of Fetch.ai tokens.