Tokens.com, a crypto-currency company listed on the Canadian Stock Exchange ($COIN), announced on Monday (8) that it had added 831 million Shiba Inu (SHIB) to its float, claiming to be the first listed company to offer its investors exposure to the crypto-currency meme.
The statement reveals that the acquisition was made last Tuesday (3), and while it doesn't specify the total dollar value of the purchase, SHIB's share price that day ($0.00006) suggests that the amount cost the company just under $50,000.
As of this Monday (8), SHIB is down 3.4% and worth around $0.000055, according to CoinMarketCap – meaning Tokens.com's investment is already at a slight loss.
However, Tokens.com CEO Andrew Kiguel seems confident about the meme currency's future.
"Shiba Inu has evolved into one of the world's largest and most popular liquid crypto-currencies, with a very loyal following. Due to its low price, Tokens.com has managed to purchase a significant number of SHIB," said Kiguel in a statement.
The Shiba Inu is a pet
Despite the day's decline, Shiba Inu's track record over the past few weeks has been impressive. Last week, SHIB reached an all-time high of $0.00008 and dethroned its main market rival, Dogecoin (DOGE), after stealing its place in the ranking of the world's largest cryptocurrencies.
The hope that Shiba Inu will continue to grow in the future prompted Tokens.com to take the risk of investing. The Canadian company specializes in blockchain investments, with an inventory of crypto-currencies based on the DeFi and NFT projects.
The company's idea is to generate revenue through staking, using the crypto-currency inventory on the platform. Unlike larger public companies that hold digital assets, Tokens.com claims that it only invests in coins based on a proof-of-stake (PoS) consensus, with the aim of being more "green".
According to Forbes, the company recently benefited from a pre-IPO investment round involving crypto-currency companies such as Bitbuy, First Block Capital, HIVE Blockchain Technologies, PowerOne Capital Group, as well as CI Global Alpha Innovators Fund, Canada's largest technology investment fund.
