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Following Bitcoin and Ethereum, the treasury strategy for altcoins continues to grow. Investment news continues to arrive for Toncoin ($TON), one of the altcoins that has recently gained traction.
The latest news on this point comes from Nasdaq-listed company AlphaTON Capital, formerly known as Portage Biotech Inc., which has been renamed AlphaTON Capital.
According to an official statement, AlphaTON Capital has launched a plan to acquire approximately $100 million worth of Toncoin and create a $TON-focused digital asset treasury.
The company will focus on $TON token reserves, network verification, and ecosystem project incubation, encouraging the development of Telegram ecosystem applications.
The statement stated that the company is currently in the financing collection phase and $TON purchases have not yet begun.
Although the exact date was not given, it was stated that $TON purchases will be made gradually and are planned to be completed in 2025.
Despite this massive buying news, no significant movement was seen on the $TON price chart.
*This is not investment advice.