LiveOne (LVO) announced it has increased its bitcoin holdings to over $5 million and acquired an additional 347,000 shares of PodcastOne (PODC), bringing its total PODC holdings to approximately 2.1 million shares since the company went public.
The music and entertainment platform company stated it targets a $500 million treasury yield strategy as part of its digital asset expansion. LiveOne also plans to expand its Web3 initiatives by tokenizing and monetizing more than 10,000 hours of video content on blockchain technology.
“Bitcoin represents a key component of our treasury strategy, providing both diversification and potential long-term growth,” said Robert Ellin, chairman and CEO of LiveOne. “We are committed to responsibly expanding our digital asset holdings while continuing to innovate across music, entertainment, and Web3 initiatives.”
The Los Angeles-based company operates as a creator-focused music, entertainment and technology platform. Its subsidiaries include Slacker, PodcastOne, PPVOne, Custom Personalization Solutions, LiveXLive, DayOne Music Publishing, Drumify and Splitmind.
The information is based on a company press release statement.
Read more on Investing.com South Africa
