Aurora Mobile to Convert 20% of Cash Reserves into Cryptocurrency
Aurora Mobile (JG), a Nasdaq-listed marketing technology firm, plans to allocate up to 20% of its cash and equivalents into cryptocurrency investments. The board approved this initiative, which may involve BTC, ETH, SOL, and SUI.
Key points:
- Aurora's strategy aims to enhance asset value while expanding market coverage.
- The company has reported cash and equivalents totaling 113.6 million yuan ($15.8 million), allowing for an estimated $3 million investment in cryptocurrencies.
- This move aligns with other firms that have announced similar plans to acquire bitcoin recently.
- Shares rose nearly 10% to $12.10 in pre-market trading following the announcement.