Proen Corp Public Company Limited PROEN will set a table to announce hot issues at the Opportunity Day event (listed companies meet investors by the Stock Exchange of Thailand) tomorrow (31 May 65) after investing more than $10 billion in Bitkub. 2.5 hundred thousand dollars at an average cost of 291 baht / coin, the latest price of KUB coins has dropped to 101 baht / coin and continues to fluctuate continuously.
The decline in the crypto market has been largely driven by the Federal Reserve’s interest rate hike to spur the sluggish economy. and the inflationary crisis that has intensified and spread in many countries around the world From the problem of the spread of the COVID-19 virus which lasted for more than 2 years continuously, the capital market was directly affected. Especially risky assets such as the digital asset market or the crypto market, which is continuously speculative trading 24 hours a day, 7 days after the Fed’s interest rate increase. This caused the capital market to decline significantly and investments were moved from risky assets. to safe haven assets to escape the risk of impact and damage from investments. Almost all cryptocurrencies were affected almost immediately. There has been a severe decline. Even USD-pegged coins such as USDT and USDC were affected.
Meanwhile, BITKUBcoin is not only affected by foreign negative factors. Still facing shock from SCBX’s $17 billion deal that still can’t close deal diligence in acquisitions. Causing traction in the price of BITKUBcoin until it dropped below 100 baht / coin, down to touch two digits. because of the uncertainty from the regulations of the Bank of Thailand for investment in digital asset business Deal value that is too high, which is a risk of cancellation.
However, during the crypto-coin investment boom in October-November 2021, many companies listed on stock exchanges. Jump into the digital asset field From the sweet temptation that the coin price has skyrocketed. And there are no negative factors coming in. There is also an analysis from a foreign investment institution that estimates that the Bitcoin price will soar to $100,000/Bitcoin. Of course, if the crypto market is booming It will drag various crypto coins, beautifully written white paper and well-marketed propaganda promotions. Fireballs like Phaya Tan go up to The Moon as well.
Meanwhile, ProEn Corp Public Company Limited or PROEN is also one of them. Previously, on February 25, 2022, PROEN agreed to invest in Bitkub Coin as a condition of joining as a par. Validator Node PoSA (Proof of Stake Authority) in Bitkub (Bitkub Chain) blockchain transaction verification system, where the company is responsible for verifying copy of transaction data. Transactions from electronic transaction accounts on the Bitkub Chain platform distributed to the company’s computer server network from holding KUB coins to guarantee staking with Bitkub for the purpose of platform study. used for the purchase service platform Sell and trade digital assets because I saw a way to make money Which has invested more than 250,000 coins in Bitkubcoin at a cost of 291 baht per coin, totaling more than 72,750,000 baht.
However, the agreement between Bitkub and PROEN stipulates that the company does not sell and/or trade such coins for a period of time before May 31, 2023, in order for the company to obtain PoSA-based transaction reviewer status on the Bitkub Chain platform. Earning as a Validator Node is an average transaction fee of 20-40% of the invested coins. This depends on the value of the number of KUB coins held and the number of verified transactions.
From the amount of investment of more than 72,750,000 baht of PROEN invested in Bitkubcoin as of 6:40 p.m. on May 30, 2022, the price has dropped to only 101 baht/BITKUBcoin, which means that PROEN’s investment value has decreased from 72,750,000 baht, leaving only 25,250,000 baht, or missing more than 47.50 million baht, or -65.29% of the value of KUB coins at this time, which from now on may cause PROEN to be intimidated by the questions of investors and the company’s shareholders. to the criteria for considering the risks of investing and worth the investment or not Which, of course, affects the financial statements in the accounting period, earnings. and the confidence of investors and shareholders who hope to invest May not receive dividends as expected On the other hand, the company may ask for a resolution of the shareholders’ meeting to add more capital from the depleted money, the risk of investing in crypto coins.
