Nilam Resources, a micro-cap company that recently unveiled plans to acquire $1.7 billion worth of Bitcoin (BTC), has drawn attention as a "public interest concern" due to a staggering 1,500% surge in its share price on Tuesday, March 26.

The OTC Markets Group, which oversees OTC Pink, a platform for over-the-counter stock trading, has labeled Nilam Resources (NILA) as "Caveat Emptor," a designation assigned to companies deemed deserving of caution by potential investors.

According to OTC Markets, this "public interest concern" designation may arise from various factors, including spam campaigns, dubious stock promotion, ongoing investigations, regulatory suspensions, or other disruptive corporate activities.

Additionally, Nilam Resources has been classified as a "Shell Risk," indicating that it may be perceived as a shell company based on its financial data and income-related metrics.

On March 25, Nilam Resources, an investment holding company, revealed that it had entered into a Letter of Intent to acquire a company planning to hold 24,800 Bitcoin. The company stated that the deal had been in progress for months and proposed issuing newly authorized "preferred stock" in exchange for the Bitcoin at a discounted rate relative to current market prices.

Following the announcement, Nilam Resources' share prices experienced a significant surge, reaching an all-time high of 33 cents the next day, marking a 1,700% increase from 1.8 cents the previous week. The company's current market capitalization stands at $280 million, as reported by OTCMarkets.

However, skepticism abounds within the crypto community regarding the feasibility of Nilam Resources' ambitious plan, with some suggesting that the announcement is merely a marketing tactic.

Former CEO Ron McIntyre has expressed concerns over the announcement, alleging that the press release was issued without his review and without detailed knowledge of the deal. McIntyre referred to the situation as a "pump and dump" scheme and anticipated a FINRA investigation into Nilam Resources.

Despite the company's description as an investment holding firm and its previous announcement of pivoting towards frontier tech sectors, including medtech, fintech, and climate tech, Nilam Resources has yet to respond to requests for comment.