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Nilam Resources fires back, says Xyberdata has 24,800 bitcoin https://t.co/rc0KMxAPwZ
NEW: On Monday, a microcap company called Nilam Resources released a letter of intent, stating they planned to purchase 24,800 #Bitcoin The stock rose over 1,900% in a day. The CEO resigned, calling it "a classic pump and dump" The stock has since crashed to $0.01 😮 https://t.co/YPO7ziBGOb
Who is Nilam Resources, and how can they afford 24,800 Bitcoin? Despite scant details, its OTC stock is soaring. https://t.co/LSlZwyyyBS
Nilam Resources, a gold miner, has seen a massive surge in stock price, up by as much as 1900-1840% after announcing plans to purchase 24,800 Bitcoin, valued at $1.72 billion. The CEO resigned the day after the announcement, raising questions about the company's ability to afford such a significant purchase. The move has sparked interest in other companies potentially following suit in acquiring Bitcoin, signaling a potential trend in the market.