Simply put
- Webus, the public company, has announced plans to create the XRP Treasury Department and has informed the U.S. Securities and Exchange Commission about it.
- The travel booking company intends to invest up to $300 million in Ripple Link XRP.
- Webus is following the trend set by others in establishing a cryptocurrency treasury, inspired by the Bitcoin Bull strategy.
The China-based travel team has approached regulators regarding a $300 million XRP Ministry of Finance—this move is gaining traction among several companies amid a recovering cryptocurrency market. There are clear risks, though.
Webus International recently submitted Form 6-K to the Securities and Exchange Commission, outlining its strategy to add Ripple Link XRP tokens to its balance sheet. They’ve partnered with investment advisor Samara Alpha Management to assist in setting up the XRP Treasury.
XRP is currently trading at $2.21, marking a 3% drop in the last 24 hours, but overall, it’s seen an impressive rise of 320% in the past year. The token’s surge aligns with previous headlines from late last year, especially around the time of President Donald Trump’s election, reaching its peak since 2017.
This Form 6-K filing details important information for U.S. investors when a foreign company makes an official investor announcement. In this case, the filing also included two press releases dated May 29 and June 2.
Webus described the deal as a significant leap in its exploration of innovative financial strategies, emphasizing it will be implemented step-by-step. They also mentioned ambitions to incorporate blockchain technology to improve cross-border transaction efficiency and transparency for their booking services.
Webus International’s stock experienced a nearly 15% rise in one day, bringing the price to $2.82, resulting in a weekly gain of about 44%.
This movement reflects a growing trend among public companies to explore cryptocurrency strategies previously highlighted by Michael Saylor’s software company approach. At present, around 223 public companies hold Bitcoin, amounting to $356 billion, as noted.
Companies seem to be increasingly adopting these strategies for managing other tokens. For example, energy firm Vivopower raised over $100 million recently to create its XRP Treasury Department. Earlier this month, WellGistics Health announced plans to add assets to its reserves for payment capabilities.
Similarly, Sharplink, another public company, revealed plans to establish an Ethereum-based Treasury, while Upexi announced intentions to increase its holdings in Solana.
As the trading climate for digital assets continues to evolve—often in unexpected ways—there’s a noticeable wave of interest in cryptocurrencies as reserve items.
Bitcoin has been fluctuating just under $105,000, up by 49% over the past year. Data indicates it spiked to about $112,000 on May 22, peaking at its all-time high.
In the broader cryptocurrency landscape, total market capitalization has risen by nearly 12% in the past three months, with numerous significant altcoins also seeing gains during this period.
