Electric Vehicle Charging Firm Nuvve Sets Aside Cash to Buy Bitcoin

Nuvve, the Nasdaq-listed clean energy electric vehicle charging technology firm, announced plans to allocate a portion of its treasury into Bitcoin (BTC). It will set aside up to 30% of its excess cash reserves to buy Bitcoin. The company stated in a press release on Jan. 28 that its move to add Bitcoin to its balance sheet is part of a strategy to diversify its holdings and offer Bitcoin as a payment option for customers and suppliers. After the announcement, shares of Nuvve (NVVE) saw a brief increase, and closed at $2.81 with a 1.81% gain on Jan. 28. It is still down from a daily high of over $4. After hours, the stock continued its modest upward movement.

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