ECD Automotive Design, Inc. (NASDAQ: ECDA), the world’s largest Land Rover and Jaguar restoration firm, has introduced as we speak the signing of a $500 million fairness facility to build up Bitcoin as a major reserve asset and fund company development and enlargement initiatives.
This strategic financing will enable ECD to construct a Bitcoin treasury whereas rising its presence within the digital asset financial system. The corporate goals to place itself on the intersection of luxurious automotive customization and Bitcoin wealth, concentrating on a rising demographic of high-net-worth people within the digital asset area.
As a part of this initiative, ECD is launching a buyer incentive: the primary twenty-one purchasers who buy a customized car utilizing Bitcoin will obtain a $21,000 improve credit score to be utilized towards their construct. The promotion is designed to enchantment on to crypto traders in search of methods to diversify into real-world property with intrinsic and collectible worth.
“We’re excited to safe this vital financing possibility, which strengthens our monetary basis and permits us to diversify our treasury technique with Bitcoin,” stated the CFO of ECD Automotive Design Ben Piggott. “Having already put the framework in place to simply accept crypto as a type of cost for our autos by means of our relationship with BitPay, this new initiative displays our continued confidence within the long-term potential of digital property and our dedication to creating worth for our shareholders and clients whereas sustaining our deal with crafting distinctive, one-of-one autos.”
ECD’s transfer builds on its latest integration with BitPay, which enabled the corporate to simply accept Bitcoin and different cryptocurrency funds for its luxurious builds, together with bespoke Defenders, Vary Rovers, Jaguar E-Sorts, Ford Mustangs, and Toyota FJs. With the brand new financing facility, ECD can problem and promote as much as $500 million in newly issued shares at its discretion, with proceeds directed towards Bitcoin accumulation, firm development, and normal company functions.
