Bitcoin (BTC) of publicly traded companies traded on the US stock exchange $96,738.3 Its adoption continues unabated.
Bitcoin Increase from Genius Group
NYSE-listed Genius Group (GNS) increased its bitcoin holdings to $35 million. This increase was ahead of the targeted $120 million. GNS purchased 372 BTC at an average price of $94,047. The company acts in line with the “Bitcoin-first” strategy it announced in November.
Shareholder Rights Offer and CEO Engagement
GNS announced a shareholder rights offering offering its shareholders the opportunity to purchase additional shares at discounted prices. If fully subscribed, this offering could bring in $33 million. GNS founder and CEO Roger Hamilton plans to buy 500,000 shares by participating in the rights offering.
Major Bitcoin Purchase from Ming Shing Group
Nasdaq-listed Ming Shing Group (MSW) purchased 500 BTC at an average price of $94,375. MSW shares are up 43% since the beginning of the year. The company offers water-related services and is also seeking loan financing to increase its bitcoin holdings.
This new wave is making a strong impact on the market, with four publicly traded companies purchasing bitcoin and seven companies announcing their strategies. Bitcoin treasury adoption continues to grow across a variety of industries.
GNS shares closed up 7% on Tuesday. Companies are exploring ways to use loans to finance bitcoin investments.
Continuing investments in Bitcoin indicates that companies are increasing their interest in digital currencies and that they plan to take further steps in this field.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
