Corporate Bitcoin Adoption Forges Ahead as More Listed Firms Ride the Wave

Bitcoin (BTC) adoption by U.S.-listed nationalist companies continues successful afloat steam.

The latest acquisition comes from NYSE-listed Genius Group (GNS). On Jan. 10, GNS reported expanding its bitcoin holding to $35 million, which was up of its scheduled people of $120 million. In the process, it acquired 372 BTC astatine an mean terms of $94,047 per bitcoin. The archetypal announcement came connected Nov. 12, erstwhile it announced its "Bitcoin-first" strategy.

On Tuesday, GNS besides reported a rights offering, allowing shareholders to acquisition further shares astatine discounted prices. If afloat subscribed, the rights offering could make $33 million. GNS laminitis and CEO Roger Hamilton intends to bargain articulation successful the rights offering and bargain 500,000 shares.

The steadfast is besides pursuing indebtedness finances to accumulate bitcoin. Shares of GNS closed 7% higher connected Tuesday.

Apart from GNS, Nasdaq-listed Ming Shing Group (MSW), a bedewed trades works work provider, besides purchased 500 BTC astatine an mean terms of $94,375 per bitcoin. MSW shares were up 43% higher year-to-date.

The caller question of bitcoin treasury adoption surges up with 4 publically traded companies announcing bitcoin buys and 7 companies announcing a strategy, but nary acquisition.

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