E-commerce inventory management platform Eightco Holdings announced the completion of a $125 million financing round, with Bitmine leading the round with a $75 million investment. Tom Lee will join the board of directors. The funds will support the company's strategic expansion into AI, blockchain, and digital consumer platforms. Eightco simultaneously completed investments in OpenAI and Beast Industries, marking its further transformation. However, the company's stock price has declined more than 92% over the past six months, reflecting market uncertainty about its transformation.
The U.S. government recently revealed that the initial six days of the U.S.-Iran conflict cost $11.3 billion, which is equivalent to approximately 48.9% of its Bitcoin holdings. Converting this expenditure into Bitcoin amounts to approximately 160,443 BTC, and at this spending rate, existing Bitcoin reserves could only support approximately 12.3 days of expenditures. The White House emphasized that Bitcoin reserves must not be sold, and pointed out that massive government spending could trigger inflation, further driving up demand for Bitcoin.
Since late February, multiple private credit fund managers have restricted redemption requests, creating a liquidity crisis. Investors may turn to liquid assets like Bitcoin to raise funds. With the FOMC meeting imminent, this could further exacerbate fragility in the crypto market, while rising credit risks at Deutsche Bank have intensified market anxiety.