After President-elect Donald Trump proposed for a strategic bitcoin (btc) reserve at the National bitcoin Conference in Nashville earlier this year, there has been a notable increase in btc adoption by several countries and companies. This month alone, nine major companies from various sectors, including finance, healthcare and artificial intelligence (ai), have adopted the leading cryptocurrency as a strategic reserve asset.
bitcoin as a strategic reserve asset
One major player making headlines is Rumble, a video platform aimed at conservative audiences. The company <a target="_blank" href="https://www.cnbc.com/2024/11/25/rumble-plans-to-buy-up-to-20-million-in-bitcoin-in-new-treasury-strategy.html” target=”_blank” rel=”noopener nofollow”>announced its intention to allocate a portion of its excess cash reserves (up to $20 million) to bitcoin. Rumble President and CEO Chris Pavlovski emphasized the long-term potential of btc, stating:
We believe the world is still in the early stages of bitcoin adoption. Unlike any government-issued currency, bitcoin is not subject to dilution through endless money printing, allowing it to be a valuable hedge against inflation and an excellent addition to our treasury.
Similarly, LQR House, a specialized e-commerce platform, revealed its strategic pivot into cryptocurrencies, planning to purchase up to $1 million worth of bitcoin as part of your new business strategy.
The Japanese company Remixpoint, which operates in the energy and automotive sectors, announced <a target="_blank" href="https://tradersunion.com/news/cryptocurrency-news/show/23285-remixpoint-to-invest-over-3-2m-in-bitcoin-as-yen-weakens/” target=”_blank” rel=”noopener nofollow”>plans acquire btc worth 500 million yen (approximately $3.27 million). This purchase will expand the company's total cryptocurrency holdings to around 3.5 billion yen ($22.92 million).
In the artificial intelligence sector, Genius Group has also increased its investments in bitcoin. <a target="_blank" href="https://ir.geniusgroup.net/news-events/press-releases/detail/159/genius-group-increases-bitcoin-treasury-40-to-total” target=”_blank” rel=”noopener nofollow”>growing its btc Treasury by an additional $4 million, bringing its total to 153 coins valued at $14 million.
This decision follows the company's previous announcement of a “bitcoin first” strategy, committing to allocate 90% or more of its current and future reserves to btc, with an initial target of $120 million.
Key for healthcare companies and media companies
The healthcare industry is not far behind: recently the international healthcare group Cosmos incorporating bitcoin and ethereum (eth) in your treasury reserves as part of a forward-thinking investment strategy.
Hoth Therapeutics and Acurx Pharmaceuticals have approved <a target="_blank" href="https://www.cnbc.com/2024/11/20/acurx-pharmaceuticals-to-add-up-to-1-million-in-bitcoin-for-treasury-reserve-following-microstrategys-playbook.html” target=”_blank” rel=”noopener nofollow”>shopping of up to $1 million in btc, recognizing its potential as a “solid treasury reserve asset” amid growing institutional interest and approval of cryptocurrencies. exchange traded funds (ETF) in the US
Thumzup Media Corp, a provider of social media branding and marketing solutions, has also joined the trend, with its board of directors. <a target="_blank" href="https://www.globenewswire.com/news-release/2024/11/15/2981922/0/en/Thumzup-Board-of-Directors-Approves-bitcoin-as-Treasury-Reserve-Asset.html” target=”_blank” rel=”noopener nofollow”>approving a $1 million investment in bitcoin.
CEO Robert Steele highlighted the growing demand and recognition of btc as a leading asset class and called it a strong addition to its treasury strategy due to its finite supply and “inflation-resistant characteristics.”
Finally, the Canadian company Jiva Technologies <a target="_blank" href="https://www.prnewswire.com/news-releases/jiva-technologies-integrates-bitcoin-into-treasury-strategy-as-board-approves-up-to-1-million-investment-302315273.html” target=”_blank” rel=”noopener nofollow”>announced plans to integrate bitcoin into its treasury strategy, approving an investment of up to $1 million. CEO Lorne Rapkin highlighted btc's growing reputation as a reliable asset class and hedge against inflation, reflecting a broader trend toward diversification of financial holdings.
At the time of writing, btc was trading at $96,250, up 5% in the last 24 hours.
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