MVC bets big: $316M locked in SUI tokens
Mill City Ventures (MCV) just added another $20 million worth of SUI tokens to its cryptocurrency treasure chest. This move makes its total investment over $316 million.
The company picked up about 5.6 million SUI tokens at around $3.65 each. They scored a sweet deal—buying below the usual price range of $3.80 to $3.90.
This push is no fluke.MCV has been on a crypto buying spree since early last month. Their plan involves spending half a billion dollars steadily on SUI tokens.
- MCV holds about 81.87 million SUI tokens.
- Nearly every token they own is staked for rewards.
- Their staking earns them roughly $26K daily.
MCV got this opportunity thanks to a special link with the Sui Foundation. This partnership lets them buy at lower costs.
MCV’s bet hinges on SUI’s growth. If SUI thrives,so does MCV. But there are risks. Market changes in SUI will affect MCV’s share price too.
Investors seem hopeful. MCV’s shares trade at 15% above its actual net asset value (NAV).
Will this strategy pay off? Onyl time will tell.
