VivoPower | Crypto

VivoPower International PLC has outlined a strategy to acquire $100 million Ripple shares as part of a broader initiative to integrate XRP into its corporate treasury, according to an Aug. 11 statement. According to the statement, the $100 million investment will expose VivoPower to 211 million XRP tokens, currently valued at around $696 million. VivoPower […] The post VivoPower to acquire $100M Ripple stake after SEC clears path for new fundraising appeared first on CryptoSlate.

VivoPower shares surged over 32% after announcing a $100 million plan to buy Ripple Labs shares, expanding its exposure to Ripple equity and XRP tokens. Nasdaq-listed solar power company VivoPower International PLC saw its shares jump 32.12% to $5.10 on Friday after the company announced plans to purchase $100 million worth of privately held Ripple Labs shares, expanding its XRP-focused digital asset treasury strategy. The move, which follows two months of due diligence, will see VivoPower acquire Ripple shares directly from existing shareholders, pending approval from Ripple’s executive management, the company said in a Friday press release. “Our portfolio construction strategy is to buy a combination of Ripple shares and XRP tokens. This will allow us to optimize for yield maximization while also minimizing the weighted average cost of XRP acquired,” Kevin Chin, executive chairman and CEO of VivoPower, said. Read more

Reitar will be buying bitcoin and VivoPower XRP.