Eightco Holdings Stock Soars on Massive Crypto Strategy Shift and Leadership Change
Major Market Movement and Strategic Transformation
Eightco Holdings (OCTO) stock experienced an extraordinary surge of nearly 3,000% on Monday following the company’s announcement of plans to pursue a Worldcoin treasury strategy. The company revealed its intention to sell $250 million worth of stock in a private placement transaction to acquire Worldcoin tokens.
Worldcoin is particularly notable as it’s the token of the World network, co-founded by OpenAI CEO Sam Altman.
Strategic Leadership Addition
In a significant leadership move, the company appointed Dan Ives as its board chair. Ives has established himself as one of Wall Street’s most prominent tech analysts during the AI boom, known particularly for his astute analysis of companies like Nvidia and Tesla. He currently serves as an analyst with investment firm Wedbush and launched his own AI Revolution ETF earlier this year.
Investment Details and Future Plans
The private placement involves approximately 171.2 million shares of common stock at $1.46 per share, expecting to raise aggregate gross proceeds of approximately $250 million. Additionally, BitMine has invested $20 million for 13.7 million shares at the same price. The transaction has attracted notable institutional investors, including World Foundation, Discovery Capital Management, Kraken, Pantera, and Brevan Howard.
The offering is scheduled to close around September 11, 2025, subject to NASDAQ authorization. Following the completion, Eightco plans to change its Nasdaq trading symbol from ‘OCTO’ to ‘ORBS’.
Company Outlook and Market Impact
The company intends to utilize the net proceeds from the offering to acquire WLD for its treasury operations, with Worldcoin serving as the company’s primary treasury reserve asset. This move aligns with a broader trend in the crypto industry, which has been experiencing growth in the U.S., as small public companies increasingly add cryptocurrencies to their treasuries, following successful strategies of larger market players.
