OnlyFans Invests in ETH Despite Losses
OnlyFans’ parent company, Fenix International, has revealed in its recent accounting statement that it invested part of its working capital into Ethereum (ETH). While the exact amount of ETH held is undisclosed, it is implied that the company suffered a loss by the end of November 2022. Despite this, OnlyFans saw a 21% increase in profits, with sales rising 17% to $1.1 billion.
Key Points:
– OnlyFans’ parent company, Fenix International, invested part of its working capital into ETH.
– The exact amount of ETH held is undisclosed, but the investment incurred a loss by the end of November 2022.
– OnlyFans saw a 21% increase in profits, with sales rising 17% to $1.1 billion.
– Many businesses, including Tesla, MicroStrategy, and Meitu, have incorporated cryptocurrencies into their investment portfolios.
– Tesla recorded a $204 million loss on its Bitcoin holdings in 2022.
– MicroStrategy now holds over 150,000 Bitcoin, worth around $3.91 billion.
– Meitu reported ETH holdings valued at $37.3 million and Bitcoin worth $15.6 million in its annual report for 2022.
Hot Take:
Despite incurring losses on its ETH investment, OnlyFans’ parent company, Fenix International, managed to increase its profits. This demonstrates the resilience of the adult content streaming platform and highlights the potential benefits of diversifying working capital into cryptocurrencies. However, investors should be cautious of the volatile nature of the crypto market and carefully consider their investment strategies.
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