✨ Bitcoin’s Institutional Adoption Gains Momentum
posted 10 hr ago
Thumzup Media and KULR Technology Group have acquired Bitcoin worth $1 million and $21 million, respectively. Both companies aim to hold 90% of their reserves in BTC, emulating MicroStrategy’s bold strategy. Institutional enthusiasm for Bitcoin remains strong even after its price fell to $95,000.
This week saw two public companies making significant Bitcoin investments, reflecting a continued trend of firms adopting the treasury strategy introduced by MicroStrategy back in 2020.
Thumzup Media, a social media marketing company headquartered in Los Angeles, announced its first major Bitcoin purchase on Tuesday, amounting to approximately $1 million.
In parallel, KULR Technology Group, a San Diego-based provider of energy storage solutions for aerospace and defense industries, revealed a $21 million Bitcoin buy. This latest acquisition increases its total BTC holdings to $42 million. The company had previously established its Bitcoin reserve on December 26, 2024, with a purchase of 217.18 BTC.
Thumzup Media, a social media marketing company headquartered in Los Angeles, announced its first major Bitcoin purchase on Tuesday, amounting to approximately $1 million.
In parallel, KULR Technology Group, a San Diego-based provider of energy storage solutions for aerospace and defense industries, revealed a $21 million Bitcoin buy. This latest acquisition increases its total BTC holdings to $42 million. The company had previously established its Bitcoin reserve on December 26, 2024, with a purchase of 217.18 BTC.
Both companies are committing to hold as much as 90% of their liquid assets in Bitcoin. Thumzup has also announced plans to begin paying contractors in cryptocurrency within weeks.
Following their Bitcoin announcement, Thumzup’s stock remained at around $4, though it has declined 7% in the last 24 hours. KULR’s stock, trading at $2.78 at the time of writing, has fallen 27% from its post-announcement high.
These firms are following in the footsteps of MicroStrategy, led by Michael Saylor, which now holds $42 billion worth of Bitcoin. This total has grown significantly in recent months thanks to new acquisitions and market fluctuations.
Toward the end of last year, biotech companies Acurx Pharmaceuticals, Hoth Therapeutics, and Enlivex Therapeutics revealed plans to invest up to $1 million each in Bitcoin. Their strategies align with those of crypto heavyweights like Tesla and Coinbase.
Following their Bitcoin announcement, Thumzup’s stock remained at around $4, though it has declined 7% in the last 24 hours. KULR’s stock, trading at $2.78 at the time of writing, has fallen 27% from its post-announcement high.
These firms are following in the footsteps of MicroStrategy, led by Michael Saylor, which now holds $42 billion worth of Bitcoin. This total has grown significantly in recent months thanks to new acquisitions and market fluctuations.
Bitcoin reached a milestone in mid-December, breaking past $108,000. Although its value has dropped to $95,000 as of this writing, companies continue to embrace Bitcoin as a foundational digital asset.
Toward the end of last year, biotech companies Acurx Pharmaceuticals, Hoth Therapeutics, and Enlivex Therapeutics revealed plans to invest up to $1 million each in Bitcoin. Their strategies align with those of crypto heavyweights like Tesla and Coinbase.
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