Nasdaq-Traded BTCS Inc. Makes Bold Move: Pudgy Penguins NFTs Join Corporate Treasury

Wall Street meets Web3 as BTCS doubles down on digital collectibles.

The blockchain-focused firm just added internet-famous Pudgy Penguins to its balance sheet—proving even suits can't resist NFT hype.

Because nothing says 'forward-thinking corporate strategy' like cartoon birds trading for ETH.

PENGU Price Surges and NFT Market Trends

The news helped PENGU, the token linked to Pudgy Penguins, jump 4.28% in price and reach $0.03764–as per CoinMarketCap data. The collection’s floor price (minimum price for an NFT) is also up 7% this week, even overtaking Bored APE Yacht Club in market cap.

NFT market activity has been strong lately, with July trading volumes hitting $6.6 billion, up 94% from the previous month. Pudgy Penguins has also been in the spotlight thanks to a collectibles deal in China and branding on a Formula One car, seen by over 85 million people.

Some experts believe NFT treasuries will become a trend for enterprises, similar to how firms store Bitcoin.  Others warn that NFTs are riskier because of market volatility and a lack of long-term data.

Also Read: Investor Acquires 5,000+ NFTs from Yuga Labs to Revive Otherside