AlphaTON announced the first $30 million purchase of TON as part of its treasury strategy.
Recently, the increasing number of crypto treasury companies are choosing many altcoins after Bitcoin and Ethereum as part of their strategies.
At this point, altcoins such as Solana, XRP and Dogecoin come to the fore, while other altcoins also receive high amounts of investment.
One of these altcoins was Toncoin (TON).
At the beginning of September, Nasdaq-listed firm AlphaTON Capital announced the launch of a plan to acquire $100 million worth of Toncoin and create a TON-focused digital asset treasury.
The company, formerly known as Portage Biotech Inc., also announced its renaming to AlphaTON Capital.
Taking early action regarding the TON investment, the company made its first TON purchase.
According to the official statement, AlphaTON announced that it has completed a $71 million financing round and made its first $30 million TON acquisition.
This acquisition makes AlphaTON Capital one of TON’s largest global shareholders.
The company plans to increase its TON treasury to $100 million by the end of 2025.
AlphaTON CEO Brittany Kaiser emphasized the company’s commitment to building infrastructure for decentralized applications (dApps) on Telegram, saying, “We’re not just building a treasury; we’re investing in infrastructure that will enable billions of users to truly own their digital lives.”
