- November 15, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Three publicly traded companies — Thumzup Media Corporation, Solidion Technology, and Genius Group — are gaining attention by incorporating Bitcoin into their treasury reserves.
These firms, each with a market capitalization under $50 million, are making bold moves as Bitcoin continues to attract interest from both retail and institutional investors following its recent surge to an all-time high of more than $93,000.
Industry leader MicroStrategy has already set the standard for creating a Bitcoin reserve strategy, reinforcing the flagship crypto’s position as a valuable tool for businesses seeking long-term stability and growth.
Thumzup Media bets on Bitcoin
On Nov. 15, Thumzup Media revealed its board had approved a Bitcoin purchase of up to $1 million. At Bitcoin’s current price of $90,085, this would amount to approximately 11.1 BTC.
Thumzup CEO Robert Steele emphasized that the decision aligns with the increasing demand for Bitcoin. He described the asset as a reliable addition to the company’s treasury, citing its finite supply and resistance to inflation as crucial advantages.
According to Google Finance data, the announcement boosted Thumzup’s stock by 4%, with its share price reaching $3.97, with a total market cap of $36 million.
Thumzup Media operates a social media marketing platform that connects users with brands. The platform allows individuals to earn money by posting authentic testimonials for advertisers.
Solidion dedicates excess cash to BTC
Solidion Technology, a US-based battery tech firm, announced plans to allocate 60% of its excess cash reserves to Bitcoin.
The company also intends to convert interest earned from money market accounts into Bitcoin and earmark a portion of future fundraising for long-term Bitcoin holdings.
Solidion highlighted Bitcoin’s potential to protect against inflation and diversify its treasury as a core motivation behind the move. The firm believes this approach will maximize shareholder value while taking advantage of Bitcoin’s upward trajectory.
Solidion Technology CFO Vlad Prantsevich said:
“We anticipate Bitcoin’s next evolution will be widespread adoption as a reserve asset by both sovereign nations and corporations, creating substantial value and long-term upside potential for Bitcoin as it gains further global acceptance. We’ve made our first purchase and are excited to continue stacking Bitcoin in line with our policy parameters.”
Genius Group’s reserve strategy
On Nov. 12, AI company Genius Group outlined an ambitious Bitcoin-first initiative, committing $120 million of its reserves to the flagship crypto.
The plan also involves leveraging Bitcoin to enhance its educational programs and global payment capabilities. Genius Group’s CEO Roger Hamilton highlighted the potential for blockchain and AI to shape a decentralized future, stating:
“We believe a new type of future-focused, AI-driven, blockchain-based public listed companies can bridge the divide for investors between the current, centralized and regulated world of NYSE, NASDAQ and other stock markets with the future promise of decentralized, exponential economies.”
He also expressed confidence in Genius Group’s ability to bridge the gap between traditional finance and emerging decentralized economies through education and innovation.
The post Rising Bitcoin tides lift small-cap companies to bold reserve strategies appeared first on CryptoSlate.
