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Corporate Bitcoin Adoption Forges Ahead as More Listed Firms Ride the Wave
In the last few weeks, four firms have announced bitcoin purchases, while seven companies announced a strategy, but no acquisition.
What to know:
- NYSE-listed Genius Group increased its bitcoin treasury to $35 million.
- Nasdaq-listed Ming Shing bought BTC worth $47 million.
Bitcoin (BTC) adoption by U.S.-listed public companies continues in full steam.
The latest purchase comes from NYSE-listed Genius Group (GNS). On Jan. 10, GNS reported increasing its bitcoin holding to $35 million, which was ahead of its scheduled target of $120 million. In the process, it acquired 372 BTC at an average price of $94,047 per bitcoin. The first announcement came on Nov. 12, when it announced its "Bitcoin-first" strategy.
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On Tuesday, GNS also reported a rights offering, allowing shareholders to purchase additional shares at discounted prices. If fully subscribed, the rights offering could generate $33 million. GNS founder and CEO Roger Hamilton intends to buy join in the rights offering and buy 500,000 shares.
The firm is also pursuing loan finances to accumulate bitcoin. Shares of GNS closed 7% higher on Tuesday.
Apart from GNS, Nasdaq-listed Ming Shing Group (MSW), a wet trades works service provider, also purchased 500 BTC at an average price of $94,375 per bitcoin. MSW shares were up 43% higher year-to-date.
The new wave of bitcoin treasury adoption surges ahead with four publicly traded companies announcing bitcoin buys and seven companies announcing a strategy, but no acquisition.
Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
AI Boost
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy.
