EV energy tech firm Nuvve to start buying Bitcoin
Nuvve said it would use 30% of its spare cash to buy Bitcoin, but its latest balance sheet suggests it won’t be able to buy much.
Clean energy electric vehicle charging tech firm Nuvve has said it will begin to buy Bitcoin by putting aside nearly a third of its spare cash.
The Nasdaq-listed company said in a Jan. 28 press release that it would “allocate up to 30% of its excess cash, calculated based on its estimated six-month operating expenses” toward buying Bitcoin (BTC).
Nuvve said adding Bitcoin will diversify its treasury holdings, and the move aligns with its goal of offering a Bitcoin payment option.
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Author: Brayden Lindrea
