Robin Energy allocates $3 million to bitcoin

Robin Energy, a Cyprus-based international ship-owning company, has announced that it has completed an initial $3 million allocation of Bitcoin as part of its new treasury strategy. The company, which provides energy transportation services globally, has chosen Anchorage Digital Bank N.A. as its custodian partner for the digital asset.

This move follows a recent decision by Robin Energy’s board of directors to adopt Bitcoin as a primary treasury reserve asset and to authorize an initial allocation of up to $5 million. The company intends to continue its Bitcoin treasury strategy with further purchases, with the timing being optimized for market conditions and operational efficiency.

The CEO of Robin Energy, Petros Panagiotidis, stated that this allocation represents the initial implementation of the company’s comprehensive Bitcoin treasury framework. He emphasized that the company believes Bitcoin’s characteristics as a scarce, finite digital asset offer significant benefits, including potential inflation hedging and portfolio diversification.

Robin Energy’s entry into the Bitcoin treasury space is another example of a growing trend among publicly traded companies to add Bitcoin to their balance sheets. This move follows similar announcements from companies like MicroStrategy, Metaplanet, and Semler Scientific, among others.

Robin Energy, a Cyprus-based international ship-owning company, has announced that it has completed an initial $3 million allocation of Bitcoin as part of its new treasury strategy. The company, which provides energy transportation services globally, has chosen Anchorage Digital Bank N.A. as its custodian partner for the digital asset.

This move follows a recent decision by Robin Energy’s board of directors to adopt Bitcoin as a primary treasury reserve asset and to authorize an initial allocation of up to $5 million. The company intends to continue its Bitcoin treasury strategy with further purchases, with the timing being optimized for market conditions and operational efficiency.

The CEO of Robin Energy, Petros Panagiotidis, stated that this allocation represents the initial implementation of the company’s comprehensive Bitcoin treasury framework. He emphasized that the company believes Bitcoin’s characteristics as a scarce, finite digital asset offer significant benefits, including potential inflation hedging and portfolio diversification.

Robin Energy’s entry into the Bitcoin treasury space is another example of a growing trend among publicly traded companies to add Bitcoin to their balance sheets. This move follows similar announcements from companies like MicroStrategy, Metaplanet, and Semler Scientific, among others.