Hold onto your hats, folks! Oxbridge Re Holdings Limited, the reinsurance company that’s about as exciting as watching paint dry, has decided to spice things up by adding Bitcoin and Ethereum to its treasury reserves. Because, you know, why not throw some digital coins into the mix? 🎉
In a move that screams “we’re trying to be cool,” the company is diversifying its financial holdings with blockchain-based opportunities. Yes, you heard that right! They’re trading in their boring old assets for some shiny new crypto. Who knew reinsurance could be so… trendy? 💁♀️
CEO Jay Madhu, who probably has a secret stash of Bitcoin under his mattress, claims that Bitcoin is a reliable store of value. “Our Board of Directors believes that Bitcoin, in particular, has demonstrated its reliability as a store of value amid rising global adoption,” he said, probably while wearing sunglasses indoors. 😎
This bold move is part of Oxbridge’s grand plan to ride the blockchain wave, led by their Web3-focused sidekick, SurancePlus Inc. SurancePlus is on a mission to make reinsurance investments as accessible as your favorite TikTok dance challenge. They’re launching two new tokens tied to upcoming reinsurance contracts: one promising a 20% return and another high-yield option aiming for a whopping 42%. Because who doesn’t want to gamble on insurance? 🎲
Other Bitcoin Reserves
Meanwhile, KULR Technology Group and Genius Group Limited are also getting in on the Bitcoin action, because apparently, everyone wants to be part of the crypto club. KULR just snagged 510 BTC worth $50 million, while Genius Group picked up 420 BTC valued at $40 million. Talk about commitment! They’re putting over 90% of their reserves into cryptocurrency. I mean, who needs cash flow when you have digital coins, right? 💸
And let’s not forget MicroStrategy, the company that’s basically the poster child for Bitcoin obsession. They just bought an additional 11,000 Bitcoin for $1.1 billion. At this point, they might as well change their name to MicroBitcoin. 🤑
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2025-01-21 21:12