The use of bitcoin as a treasury was gaining popularity in the early part of this year. Japanese investment firm Metaplanet for instance, is looking to be a leader. “Asia’s first MicroStrategy” In April. Over the weekend, CEO David McKay said:
Semler Scientific, a medical tech company that bought BTC worth $40 million in May, announced today it had acquired 215 BTC from Nov. 6 to Nov. 15. Now, it holds 1,273 bitcoins. DeFi Technologies had 204 BTC as of September 30, despite purchasing 110 BTC back in June.
Even more companies seem to be ready to purchase and hold BTC now, following the elections.
Solidion Technology, a provider of battery materials, announced last week that it would dedicate 60% of its excess funds from operations (plus some of the capital raised) to BTC purchases. It will convert interest earned on money market account cash into BTC.
Solidion Notes “the potential for favorable regulatory frameworks and increased institutional adoption, highlighted by the recent wave of bitcoin ETFs” As a result,
This morning, two others — China-based integrated circuit design company Nano Labs and Chicago-headquartered Cosmos Health — shared similar intentions, and rationale.
Nano Labs releases a news release expressing confidence in bitcoin. “a reliable store of value amidst its rising global adoption.”
Greg Siokas of Cosmos Health said in a press release that he views BTC and ETH as equal. “not only as potential hedges against inflation and currency devaluation but also as diversification tools offering substantial upside potential.”
The companies that buy bitcoins for their Treasury is a part of the “widespread adoption” Story on the Crypto bull case Bingo card
We will continue to monitor if and when US states and the federal government can implement similar plans for bitcoin reserves. It would be huge news, and probably trigger another chapter of the current price rise.
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