Bitcoin (BTC) adoption by US publicly traded companies continues at full steam.
The latest purchase comes from NYSE-listed Genius Group (GNS). On January 10, GNS reported increasing its bitcoin holdings to $35 million, which was ahead of its planned goal of $120 million. In the process, it acquired 372 BTC at an average price of $94,047 per bitcoin. The first announcement came on November 12 when it announced its “Bitcoin-first” strategy.
On Tuesday, GNS also reported on a rights offering that allows shareholders to buy additional shares at discounted prices. If the rights issue is fully subscribed, it could generate $33 million. GNS founder and CEO Roger Hamilton intends to buy, participate in the rights offering and purchase 500,000 shares.
The firm is also pursuing debt financing to accumulate bitcoin. Shares in GNS closed 7% higher on Tuesday.
Apart from GNS, Nasdaq-listed Ming Shing Group (MSW), a wet trading utility provider, also bought 500 BTC at an average price of $94,375 per bitcoin. MSW shares surged 43% higher year to date.
The new wave of bitcoin treasury adoption surges forward with four publicly traded companies announcing bitcoin purchases and seven companies announcing a strategy but no acquisitions.
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