NewsDialy
A cryptocurrency called PURR gained 15% after Hyperliquid Strategies updated the market on its holdings of a digital asset called HYPE.
A corporate cryptocurrency treasury, the term the company used to describe its position, is a reserve of a single digital token held on the balance sheet as the central financial strategy of the business, not a conventional cash reserve.
Hyperliquid Strategies put the total value of that treasury at $1.9 billion. How the position was built The company said it deployed $773.4 million to acquire approximately 16.5 million additional HYPE tokens.
The average cost came to $46.77 per token. To deploy capital, in this context, means to convert money the company held into the target asset. Those figures describe one complete transaction.
Keep reading