The US small logistics company hit headlines after announcing Trump Memecoin as part of its Treasury. Freight Technologies Inc. The share price increased by more than 100%on Friday after the announcement announcement.
According to the Bloomberg reportThe lesser -known company intends to use the proceeds from the sale of convertible bonds to acquire a politically charged cryptocurrency, which has a link to US President Donald Trump.
As of Friday Freight Technologies Inc 108%had risen, changing its market value of $ 4.6 million. However, the price of the Trump badge did not show much movement during the day.
Plans to start with a million dollars in Trump
As Bloomberg announced, Freight Technologies starts a plan with $ 1 million Trump Chips. The company may increase it to up to $ 20 million in the future. This is one of the first publicly traded companies to declare Trump as his main digital asset.
The activity seems to be less an investment and rather contributions to name recognition and jumps. Trump is Memecoin and Memecoins are notorious in the wild price volatility. The coin did not fluctuate much after the announcement, which may show that the market does not respond in the same way as investors Freight shares.
The company already has $ 8 million in FET
Freight Technologies is not unfamiliar to crypto. Business had previously purchased $ 8 million FET marks. Fet is a decentralized platform for fetch.AI natural cryptocurrency, with an emphasis on artificial intelligence. This investment was approved as of April 29.
TRUMP Coin price up in the last 30 days. Source: Coingecko
Bitcoin runs the movement of the company's reserve
Other companies take the opposite route in terms of cryptocurrencies. The strategy and the metaplanet are both focused on bitcoins, not Memecoins. Michael Saylor announced on May 1, the strategy doubles his plan to raise $ 42 billion in equity and another $ 42 billion with a fixed income – just buying a bitcoin.
The company also announced that it has earned nearly 14% of the BTC in return and the profit of nearly $ 6 billion a year ago. In 2025, the aim of the strategy is to increase this return by a quarter and profits to $ 15 billion. Metaplanet There is also 3.6 billion yen to supplement Bitcoin stocks.
Highlighted Picture 9News, Graph of TradingView
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