The company Coin Citadel which has been involved in bitcoin-based business has announced in a press release to increase its bitcoin holdings by $750,000 in coming days.
Coin Citadel has not revealed any specific information like where the company will be receiving bitcoins, but it has already explained the plan to increase its holdings. Coin Citadel’s total holding will stand at 2,251 bitcoins by raising about 1,675 bitcoins as part of the non-dilutive stock transition, which is more than $1 million.
James Pulver, the CEO of Coin Citadel quoted in the press release that the company is also acquiring two additional assets. There were no further information regarding this. “My job is to add value to the company and to take advantage of opportunities like this. The more prudent acquisitions we make and assets we have, the more valuable out the company will be. With this Bitcoin asset, we will have over $1 million in bitcoins to complement out new upcoming acquisitions. With everything falling into place we feel we are moving forward in the right direction,” he said in his statement.
Although the company’s future plans are unknown, the company is believed to enlighten the bitcoin community in upcoming future.
Coin Citadel was incorporated originally in the year 1986 as Fertility Advancements Inc. after which the company changed its name. Last year, Coin Citadel launched its first Bitcoin ATM in California and prior to that, the company was the owner of Bitcoiner7, a bitcoin exchange, which is out of operation. Coin Citadel has been listed in OTCMarkets.com and is heading towards regaining ‘current’ status on the platform.
