Publicly Traded Companies Bolster Bitcoin Holdings Amid Rising Corporate Adoption

Two publicly traded companies, KULR Technology Group and Genius Group Limited, have announced significant increases in their Bitcoin holdings as part of their treasury strategies. This move signals a broader trend of corporate adoption of digital currencies.

KULR Technology Group Boosts Bitcoin Treasury

KULR Technology Group, headquartered in Houston, has raised its Bitcoin treasury to 510 BTC with an additional $8 million purchase. The acquisitions, made at an average price of $101,695 per Bitcoin, bring the total value of KULR’s Bitcoin holdings to $50 million.

This move aligns with KULR’s strategy to allocate up to 90% of its surplus cash reserves to Bitcoin. The company has achieved a year-to-date Bitcoin yield of 127%, using this metric to measure performance relative to its outstanding shares.

Genius Group Increases Bitcoin Holdings Amid “Bitcoin-First” Strategy

Singapore-based Genius Group has increased its Bitcoin treasury to 420 BTC after a $5 million purchase at an average price of $95,912 per Bitcoin. Over three months, Genius Group has accumulated $40 million in Bitcoin as part of its “Bitcoin-first” strategy, which commits at least 90% of its reserves to cryptocurrency.

The company plans to eventually hold $120 million in Bitcoin, funded through reserves, an ATM facility, and $19 million in crypto-backed loans from Arch Lending.

Corporate Adoption of Digital Currencies on the Rise

Both companies are positioning Bitcoin as a core asset in their financial strategies, signaling a broader trend of corporate adoption of digital currencies. This trend is expected to continue as more companies explore the potential benefits of incorporating cryptocurrencies into their treasury management strategies.

Some key benefits of corporate Bitcoin adoption include:

  • Diversification of assets
  • Potential for long-term growth
  • Increased liquidity
  • Improved treasury management

As the corporate adoption of digital currencies continues to grow, it will be interesting to see how this trend evolves and impacts the broader cryptocurrency market.

For more news on cryptocurrencies and corporate adoption, visit Global Crypto News.

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