The momentum behind Bitcoin (BTC) adoption among publicly traded companies in the United States continues to accelerate, with multiple firms making major announcements this week regarding their commitment to the leading cryptocurrency.
Institutional Bitcoin Adoption by Public Companies is Increasing
Genius Group (GNS), a New York Stock Exchange-listed company, announced on Jan. 10 that it has raised $35 million in Bitcoin holdings, surpassing its initial target of $120 million.
The firm purchased 372 BTC at an average price of $94,047 per Bitcoin, in line with the “Bitcoin first” strategy it announced on November 12.
To further strengthen its Bitcoin strategy, Genius Group has launched a rights offering that allows shareholders to purchase additional shares at discounted prices.
The offering could be worth up to $33 million if fully subscribed, with CEO Roger Hamilton committing to buy 500,000 shares.
The company also plans to use loan financing to fund future Bitcoin purchases. Following these developments, GNS shares closed 7% higher on Tuesday.
Another major player, Nasdaq-listed trading services provider Ming Shing Group (MSW), made headlines after purchasing 94,375 BTC at an average price of $500 per Bitcoin. The announcement fueled investor optimism, with MSW shares up 43% year-to-date.
This week, seven more companies also announced strategies to integrate Bitcoin into their operations, signaling growing institutional interest in the cryptocurrency as a treasury asset.
This increase in adoption underscores the growing confidence in Bitcoin’s long-term potential among public companies despite ongoing market volatility.
As more firms jump on the Bitcoin bandwagon, the cryptocurrency continues to solidify its role as a cornerstone of corporate treasury diversification.
*This is not investment advice.