Cyprus-based international ship-owning firm Robin Energy today announced the successful conclusion of its initial $5 million Bitcoin (BTC) allocation through Anchorage Digital Bank N.A., as part of its newly adopted treasury framework.
Following the development, the firm’s Nasdaq-listed stock RBNE spiked 90%, hitting an intraday high of $4.27 before losing some of its gains. On a year-to-date (YTD) basis, the stock has increased by 106.8%.
It is worth noting that RBNE hit its all-time high (ATH) earlier this year on June 13. However, no specific reason can be found for the same. Commenting on today’s Bitcoin purchase, Petros Panagiotidis, CEO, Robin Energy, said:
We are pleased to have completed the allocation of $5 million to Bitcoin in accordance with our board-approved strategy. We believe in Bitcoin’s unique characteristics as a scarce digital asset and see it as an integral component of our long-term strategy to grow our Company further and drive shareholder value.
Robin Energy’s foray into the cryptocurrency realm is not surprising, as an increasing number of firms are choosing to add leading digital assets like BTC and Ethereum (ETH) to their balance sheets in 2025.
