Allied Gaming & Entertainment announces strategic investment in Bitcoin, Ethereum

* Allied Gaming & Entertainment (NASDAQ:AGAE [https://seekingalpha.com/symbol/AGAE]) announced on Friday that it has made an initial investment in Bitcoin (BTC [https://seekingalpha.com/symbol/BTC]) and Ethereum (ETH [https://seekingalpha.com/symbol/ETH]) as part of its corporate treasury management strategy.
* The company said it's a first step toward incorporating cryptocurrency into its balance sheet and lays the foundation for AGAE’s broader blockchain and Real World Asset (RWA) tokenization initiatives.
* “We see cryptocurrency not only as a store of value, but also as a strategic building block for the future of our business,” said Mr. Yangyang (James) Li, CEO of AGAE. “Integrating blockchain and digital assets into our ecosystem is a natural progression of our vision to connect people through gaming, entertainment, and innovative financial technologies.”
* AGAE +95.36% premarket to $1.78.
* Source: Press Release [https://seekingalpha.com/pr/20230629-allied-gaming-and-entertainment-announces-strategic-investment-in-bitcoin-and-ethereum]

MORE ON ALLIED ESPORTS ENTERTAINMENT

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* Financial information for Allied Esports Entertainment [https://seekingalpha.com/symbol/AGAE/income-statement]