More Companies Embrace Bitcoin As Adoption Accelerates
Crypto/Finance

More Companies Embrace Bitcoin As Adoption Accelerates

Recent weeks have seen notable investments in Bitcoin by several publicly listed companies, signalling a growing trend in corporate cryptocurrency adoption.

Overview

The adoption of Bitcoin (BTC) among publicly listed companies in the United States is gaining momentum as several firms continue to make significant investments.

Recent Developments

  • Genius Group (NYSE: GNS) has increased its Bitcoin treasury to $35 million, surpassing its target of $120 million. The company acquired 372 BTC at an average price of $94,047 each.
  • Ming Shing Group (Nasdaq: MSW) purchased 500 BTC at an average price of $94,375, with its shares rising 43% since the beginning of the year.

Key Points

  • In total, four firms have announced Bitcoin purchases, and seven more have outlined strategies for cryptocurrency but have not yet made acquisitions.

Bitcoin Corporate Treasury Adoption
Exhibit showing corporate treasury Bitcoin adoption (Source: Shutterstock)

This acceleration in corporate cryptocurrency adoption highlights how traditional businesses are increasingly recognizing the value of Bitcoin.

Next article

Stablecoin Dynamics and Bitcoin Outlook Amid U.S. Inflation Concerns

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!