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ECD Automotive Design Secures $500M Facility to Acquire Bitcoin
ECD Automotive Design, Inc. (NASDAQ: ECDA), the world’s largest Land Rover and Jaguar restoration company, has announced today the signing of a $500 million equity facility to accumulate Bitcoin as a primary reserve asset and fund corporate growth and expansion initiatives.
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ECD Automotive Design $ECDA Secures $500M Equity Facility to Fund a #Bitcoin Treasury pic.twitter.com/NB9MzTnFTT
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This strategic financing will allow ECD to build a Bitcoin treasury while increasing its presence in the digital asset economy. The company aims to position itself at the intersection of luxury automotive customization and Bitcoin wealth, targeting a growing demographic of high-net-worth individuals in the digital asset space.
As part of this initiative, ECD is launching a customer incentive: the first twenty-one clients who purchase a custom vehicle using Bitcoin will receive a $21,000 upgrade credit to be applied toward their build. The promotion is designed to appeal directly to crypto investors seeking ways to diversify into real-world assets with intrinsic and collectible value.
“We are excited to secure this significant financing option, which strengthens our financial foundation and enables us to diversify our treasury strategy with Bitcoin,” said the CFO of ECD Automotive Design Ben Piggott. “Having already put the framework in place to accept crypto as a form of payment for our vehicles through our relationship with BitPay, this new initiative reflects our continued confidence in the long-term potential of digital assets and our commitment to creating value for our shareholders and customers while maintaining our focus on crafting exceptional, one-of-one vehicles.”
ECD’s move builds on its recent integration with BitPay, which enabled the company to accept Bitcoin and other cryptocurrency payments for its luxury builds, including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs. With the new financing facility, ECD can issue and sell up to $500 million in newly issued shares at its discretion, with proceeds directed toward Bitcoin accumulation, company growth, and general corporate purposes.
This post ECD Automotive Design Secures $500M Facility to Acquire Bitcoin first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
