Bitcoin Adoption Accelerates Among U.S. Public Companies, with Recent Purchases and Strategies
Bitcoin (BTC) adoption by U.S.-listed public companies continues to gather momentum, with several firms making moves to expand their Bitcoin holdings.
The latest development comes from Genius Group (GNS), an NYSE-listed company, which on January 10 announced it had increased its Bitcoin holdings to $35 million, surpassing its target of $120 million. As part of this, GNS acquired 372 BTC at an average price of $94,047 per Bitcoin. This follows the company’s initial “Bitcoin-first” strategy announced on November 12.
Additionally, GNS revealed a rights offering, giving shareholders the opportunity to purchase more shares at a discounted price. If fully subscribed, the offering could raise $33 million. Roger Hamilton, the founder and CEO of GNS, intends to participate in the rights offering by purchasing 500,000 shares. The company is also exploring loan financing to further increase its Bitcoin reserves. As a result, GNS shares rose by 7% on Tuesday.
Other companies are also joining the Bitcoin treasury movement. For example, Ming Shing Group (MSW), a Nasdaq-listed provider of wet trades services, acquired 500 BTC at an average price of $94,375 per Bitcoin. As a result, MSW shares have surged by 43% year-to-date.
In total, four public companies have announced Bitcoin purchases, while seven others have revealed their strategies for integrating Bitcoin, though they have yet to make actual acquisitions. This growing trend of Bitcoin treasury adoption signals increasing institutional interest in the cryptocurrency as a store of value and potential asset class.
