Public Companies Embrace Bitcoin Financial Strategies

According to BlockBeats, the interest in digital assets is driving a new phase of corporate adoption of Bitcoin, with several publicly traded companies following MicroStrategy's lead by incorporating Bitcoin into their balance sheets. In 2024, companies such as Metaplanet, Semler Scientific, and MARA Holdings have begun adopting Bitcoin financial strategies. KULR Technology Group, listed on the New York Stock Exchange, is the first company in this second wave. As of January 7, some publicly listed companies have announced Bitcoin financial strategies but have yet to make any purchases. Acurx Pharmaceuticals, listed on Nasdaq, had its board approve a Bitcoin purchase plan of up to $1 million on November 20. Since November 19, its stock price has fallen by 35% but has risen by 30% year-to-date. Similarly, Nasdaq-listed Hoth Therapeutics also approved a $1 million Bitcoin purchase plan on November 20, though no purchases have been made. Its stock price has increased by 2% since November 19. LQR House, another Nasdaq-listed company, announced on November 19 that it would accept cryptocurrency payments and retain up to $10 million in Bitcoin payment funds. Its stock price has surged by 56% since November 19. Lastly, New York Stock Exchange-listed SOS Limited approved a $50 million Bitcoin purchase plan on November 27. At the time of the announcement, Bitcoin was priced at $93,000 per coin. Since November 19, SOS Limited's stock price has decreased by 30%.