More Companies Designate Bitcoin as Treasury Reserve Asset
Bitcoin treasury strategies have gained traction, with firms like Metaplanet aiming to become “Asia’s first MicroStrategy.” Its CEO announced further bitcoin purchases are forthcoming:
Medical tech company Semler Scientific acquired 215 BTC between November 6 and November 15, increasing its total holdings to 1,273 bitcoins. DeFi Technologies purchased 110 BTC in June, holding approximately 204 BTC as of September 30.
Following the election, more companies plan to buy and hold BTC. Solidion Technology announced it would allocate 60% of excess cash from operations and part of raised capital to BTC purchases, converting interest earnings from money market accounts into BTC. The firm cites favorable regulatory frameworks and increased institutional adoption as motivating factors.
Nano Labs and Cosmos Health also expressed intentions to invest in BTC. Nano Labs emphasized bitcoin's reliability as a store of value amid global adoption. Cosmos Health’s CEO views BTC and ETH as hedges against inflation and currency devaluation, offering diversification and upside potential.
The trend of companies acquiring bitcoin for their treasuries supports the narrative of widespread adoption in the cryptocurrency market. Observers are monitoring potential moves by the US government and individual states to implement similar bitcoin reserve plans, which could significantly impact market dynamics.