Hey there, fellow financial enthusiasts! Today, let's dive into the exciting realm of Green Minerals AS from Norway as they shake things up with their latest move: the adoption of a Bitcoin Treasury Strategy. This strategic shift isn't just about finances; it's a bold step towards safeguarding against inflation and global uncertainties.
The Bitcoin Buzz at Green Minerals
Bitcoin: A Shield Against Fiat Vulnerabilities
Green Minerals AS, a prominent mineral mining player in Norway, isn't just about digging deep anymore. By integrating Bitcoin into its financial ecosystem, the company is gearing up to break free from the shackles of traditional fiat currencies. The goal? Diversification and resilience.
The Vision Behind the Strategy
Securing Long-Term Value
According to Ståle Rodahl, the Executive Chairman of Green Minerals, the allure of Bitcoin lies in its decentralized and inflation-resistant nature. By embracing a Bitcoin Treasury Strategy, the company isn't just safeguarding its assets; it's laying the groundwork for financial innovation and sustained growth.
Bitcoin: A Cornerstone in Capital Ventures
High-Efficiency Deep Sea Mining on the Horizon
Green Minerals is set to embark on a groundbreaking journey, aiming to raise $1.2 billion in collaboration with partners. Bitcoin is set to play a pivotal role in this capital-raising endeavor, setting the stage for the launch of the High-Efficiency Deep Sea Mining (HEDSM) program.
"Our commitment to innovation remains unwavering, with the Bitcoin Treasury Strategy aligning seamlessly with our project objectives," emphasized a spokesperson from Green Minerals.
Embracing Transparency and Efficiency
The Role of Blockchain in Mining
Green Minerals isn't just stopping at Bitcoin; the company recognizes the transformative power of blockchain technology. By leveraging blockchain, the company aims to enhance transparency in the supply chain, certify mineral origins, and streamline operations for maximum efficiency.
Pioneering a New Era in Reporting
Introducing Bitcoin per Share (BTC/share)
As part of its commitment to transparency, Green Minerals plans to introduce a novel key performance indicator (KPI) called Bitcoin per share (BTC/share). This metric will provide shareholders with clear insights into the company's digital asset holdings, starting with the acquisition of bitcoins in the near future.
Looking Beyond the Horizon
Blockchain: Shaping the Future of Mining
Green Minerals envisions a future where blockchain transcends its treasury applications. The company plans to integrate blockchain across its operations to drive transparency, certify origins, and boost overall efficiency.
Join Us on the Journey
As Green Minerals blazes a trail in sustainable mineral extraction and financial innovation, we invite you to stay tuned for more updates. Let's embark on this exciting voyage towards broader blockchain adoption together!
Ready to explore the dynamic world of Green Minerals and their Bitcoin Treasury Strategy? Dive into the full story here!
Frequently Asked Questions
Are gold IRAs a good idea?
Purchase shares in mining companies to invest in precious metals like gold. This is a good way to make money when you invest in gold and other precious metals like silver.
But, owning shares in direct form has two downsides:
Holding on to your stock for too many years can lead you to losing money. Stocks fall faster than their underlying assets (like gold) when they are declining. You could lose your money, rather than make it.
Second, you may miss out on potential profits if you wait until the market recovers before selling. Therefore, you might need patience and wait for the market recovery before making any profit from your gold investments.
Physical gold can be beneficial if you prefer to keep investments separate from your finances. A gold IRA can help you diversify your portfolio, and protect against inflation.
Visit our website for more information on gold investing.
Which type of IRA could be used for precious metals
Many financial institutions and employers offer an individual retirement account (IRA) as an investment option. An IRA allows you to contribute money that is tax-deferred until it is withdrawn.
You can save taxes and pay them later with an IRA. This means you can save money and pay taxes later on the money that you have deposited to your retirement account.
An IRA is a tax-free way to make contributions and earn income until you withdraw the funds. When you do, there are penalties for early withdrawal.
After 50 you can still make contributions to your IRA. There is no penalty. If you choose to take withdrawals from your IRA during retirement, you'll owe income taxes and a 10% federal penalty.
Withdrawals that are made prior to the age of 60 1/2 are subjected to a 5% IRS tax penalty. Between the ages of 591/2 and 70 1/2, withdrawals are subject to a 3.4% IRS penal.
An IRS penalty of 6.2% applies to withdrawals above $10,000 per year.
What are the pros & con's of a golden IRA?
A gold IRA is an excellent investment vehicle for those who want to diversify their holdings but don't have access to traditional banking services. It allows you invest in precious metals like platinum, silver, and gold without any taxes, until they're withdrawn.
However, if you withdraw money before the due date, you will be subject to ordinary income tax. These funds are not held in the country so creditors cannot seize them if you default on your loan.
So if you like owning gold without worrying about taxes, a gold IRA may be right for you.
Statistics
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
- Silver must be 99.9% pure • (forbes.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
External Links
regalassets.com
wsj.com
investopedia.com
takemetothesite.com
How To
How To Buy Gold For Your Gold IRA
Precious metal is used to describe precious metals such as gold, silver (excluding helium), palladium, palladium or osmium), ruthenium, rose, rhenium, ruthenium and others. It can be any element naturally occurring between atomic numbers 7 and 110 (excluding the helium). This is valuable due to its beauty and rarity. Precious metals that are most commonly used include silver and gold. Precious metals are often used as money, jewelry, industrial goods, and art objects.
The price of gold fluctuates daily due to supply and demand. As investors seek safety from unstable economies, there has been an increase in demand for precious metals in the last decade. Prices have increased significantly because of this demand. Some are concerned about the increased cost of production and have resisted investing in precious materials.
Gold is a good investment because it's rare and durable. Contrary to other investments, gold does not lose its value. Additionally, you can sell and buy gold without any taxes. You have two options to invest in gold. You can purchase gold coins and bars or invest in gold futures contracts.
You can instantly have liquidity with physical gold bars and coins. They're easy to trade and store. However, they are not very inflation-proof. If you want to protect yourself from rising prices, consider purchasing gold bullion. Bullion can be defined as physical gold. It comes in different sizes. Many billions come as one-ounce pieces while others are larger like kilobars. Bullion is stored in vaults that are protected against theft and fire.
Buy gold futures to own shares and not actual gold. Futures allow you to speculate on how the price of gold might change. You can expose yourself to the price of gold by buying gold futures without having to own the physical commodity.
For example, if I wanted to speculate on whether the price of gold would go up or down, I could purchase a gold contract. My position at the expiration of the contract will be either “long-term” or “short-term.” A long contract indicates that I believe the price for gold will rise. Therefore, I'm willing give money to someone now in exchange of the promise that I will get more money after the contract ends. A shorter contract will mean that I expect the price to fall. So, I'm willing to take the money now in exchange for the promise that I'll make less money later.
I will be paid the specified amount of the contract plus interest after the contract expires. I am now exposed to the price of gold, without actually holding it.
Precious metals can be a great investment because they are very hard to counterfeit. Precious metals can't be counterfeited like paper currency. However, new bills can be printed to make them look more authentic. This is why precious metals have always held their value well over time.
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