Nasdaq-listed BTCS Adds Pudgy Penguins NFTs To Treasury As PENGU Price Rises

Nasdaq-listed BTCS Inc. has expanded its treasury strategy by acquiring three Pudgy Penguins NFTs, a departure from its traditional Ethereum-heavy holdings. The company recently executed its largest single ETH purchase—14,240 ETH—bringing total holdings to over 70,000 ETH.

Pudgy Penguins, launched in 2021, are considered “blue-chip” NFTs due to strong floor prices and community support. The purchase reflects a rising trend of companies adding NFTs to reserves, similar to corporate Bitcoin holdings. Supporters, including Yuga Labs CEO Garga, believe NFTs add cultural value, enhancing brand engagement and investor appeal.

Critics, however, caution that NFTs carry greater volatility and less historical performance data compared to Bitcoin and Ethereum. BTCS’s diversification move could influence other firms to explore NFTs as part of corporate treasury strategies, potentially reshaping how companies view digital assets beyond cryptocurrencies.

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