Nuvve Holding Corp. Adopts Bitcoin Treasury Strategy with 30% Allocation
Nuvve Holding Corp. has adopted Bitcoin as part of its treasury strategy, following MicroStrategy's lead. Key points include:
- The Board approved using up to 30% of spare cash for Bitcoin purchases.
- Nuvve will accept Bitcoin as a payment method.
- This move aims to diversify its treasury holdings and has already led to a 3% increase in its stock price.
- Despite the recent boost, Nuvve's stock is down 13% over the last month and 51% over six months.
Other firms are also integrating Bitcoin into their strategies:
- Fathom Holdings plans to allocate 50% of excess cash towards purchasing up to $500,000 in Bitcoin or Bitcoin ETFs.
- Metaplanet Inc. aims to acquire 10,000 BTC by year-end.
- Healthcare companies Semler Scientific and Cosmos Health have announced similar strategies.
Bitcoin has seen significant price movements, increasing over 100% this year and currently trading at approximately $100,762.73.