DALLAS, Nov. 14,
2024 /PRNewswire/ -- Solidion Technology, Inc.
(NASDAQ: STI), an advanced battery materials provider, today
announced a major step forward in its corporate treasury strategy
by allocating a significant portion of its excess cash reserves to
Bitcoin. This move, alongside the broader pro-Bitcoin environment
influenced by the recent election of a pro-crypto administration,
solidifies the company's long-term belief in Bitcoin's role as a
store of value and a strategic asset. Solidion's core business
continues to be developing and commercializing high-capacity
silicon anode materials, featuring non-silane gas based and
graphene-enhanced versions for automakers and other energy storage
applications, along with leveraging other advanced battery
technology in our unmatched 550+ patent portfolio.
Key Aspects of the Bitcoin Allocation Strategy
- 60% of Excess Cash Allocated to Bitcoin: Solidion will
commit 60% of any excess cash from operations to Bitcoin
purchases.
- Interest Earnings Conversion to Bitcoin: Solidion will
convert interest earnings on cash held in money market accounts to
Bitcoin.
- Commitment of Future Capital Raises to Acquire Additional
Bitcoin: Solidion will designate a percentage of funds to
Bitcoin acquisitions to be held for the long-term.
The allocation reflects a strong commitment to enhancing
shareholder value by leveraging Bitcoin's potential as a hedge
against inflation and as a valuable component of a diversified
treasury.
Capitalizing on Recent Pro-Bitcoin Momentum
The recent election results have brought significant attention
to Bitcoin, with a new administration known for its pro-Bitcoin
stance and support for a Strategic Bitcoin Reserve. The potential
for favorable regulatory frameworks and increased institutional
adoption, highlighted by the recent wave of Bitcoin ETFs,
underscores Bitcoin's value proposition and makes it an ideal asset
for corporate treasuries seeking inflation-resistant stores of
value.
Bitcoin as a Strategic Treasury Asset
Bitcoin, often called "digital gold," has grown exponentially
over the past decade, evolving through power law dynamics into a
globally recognized store of value and inflation hedge.
Institutional investors, global wealth managers, corporations and
private individuals continue to adapt the technology in high
volumes given the scarce, digital, decentralized, transparent and
global liquidity characteristics, unmatched by any other asset.
CFO Statement
"We believe strongly in Bitcoin's transformative potential for
the financial system, and we see our allocation as both a secure
store of value and compelling investment," said Vlad Prantsevich, CFO of Solidion Technology.
"With the Security and Exchange Commission's recent approval of
Bitcoin ETFs, we've already seen significant steps toward
institutional acceptance. Additionally, we anticipate Bitcoin's
next evolution will be widespread adoption as a reserve asset by
both sovereign nations and corporations, creating substantial value
and long-term upside potential for Bitcoin as it gains further
global acceptance. We've made our first purchase and are excited to
continue stacking Bitcoin in line with our policy parameters, with
plans to evolve our strategy as we move forward."
For more information, please visit www.solidiontech.com or
contact Investor Relations.
About Solidion Technology
Headquartered in Dallas, Texas
with pilot production facilities in Dayton, Ohio, Solidion's (NASDAQ: STI) core
business includes manufacturing of battery materials and
components, as well as development and production of
next-generation batteries for energy storage systems and electric
vehicles for ground, air, and sea transportation. Solidion holds a
portfolio of over 550 patents, covering innovations such as
high-capacity, non-silane gas and graphene-enabled silicon anodes,
biomass-based graphite, advanced lithium-sulfur and lithium-metal
technologies.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Solidion Technology Inc., (NASDAQ: STI) (the "Company,"
"Solidion," "we," "our" or "us") desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words "forecasts"
"believe," "may," "estimate," "continue," "anticipate," "intend,"
"should," "plan," "could," "target," "potential," "is likely,"
"expect" and similar expressions, as they relate to us, are
intended to identify forward-looking statements. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
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