Key Points
- Oxbridge Re Holdings Limited has incorporated Bitcoin and Ethereum into its treasury reserve strategy.
- The company’s subsidiary, SurancePlus Inc, plans to launch two tokens tied to reinsurance contracts.
Oxbridge Re Holdings Limited, a publicly traded company known for reinsurance and tokenizing real-world assets, has included Bitcoin and Ethereum in its treasury reserve approach.
This decision underscores the firm’s commitment to diversifying its financial holdings. This includes integrating blockchain-based opportunities such as Bitcoin (BTC) and Ethereum (ETH).
CEO’s Statement
CEO Jay Madhu has highlighted Bitcoin’s dependability as a value storage mechanism. He noted its growing acceptance and price stability.
Madhu stated that the Board of Directors believe in the reliability of Bitcoin as a store of value. This belief is backed by increasing global acceptance, significant price appreciation, and growing investor confidence.
Oxbridge’s Blockchain Initiatives
This move is in line with Oxbridge’s wider blockchain initiatives. These are spearheaded by its Web3-centric subsidiary, SurancePlus Inc. SurancePlus aims to revolutionize access to reinsurance investments through tokenization and decentralization.
SurancePlus is planning to roll out two new tokens connected to forthcoming reinsurance contracts. One targets a 20% return and the other, a high-yield option, aims at a 42% return. Both tokens will be backed by reinsurance contracts facilitated through Oxbridge’s sidecar vehicle, Oxbridge Re NS.
Other companies, such as KULR Technology Group and Genius Group Limited, have also increased their Bitcoin holdings as part of their treasury strategies.
KULR secured 510 BTC valued at $50 million, while Genius Group bought 420 BTC worth $40 million. Both firms have allocated over 90% of their reserves to cryptocurrency.
MicroStrategy, a company known for its Bitcoin investment strategy, continued its aggressive Bitcoin purchasing. The company bought an additional 11,000 Bitcoin for $1.1 billion.