In a recent development, Fathom Holdings, a national, technology-driven, end-to-end real estate services platform today announced that its Board of Directors has approved the inclusion of Bitcoin (BTC) as a key asset under the Company’s treasury management program.
Notably, this move also aligns with Fathom Realty’s longer-term strategy to enable Bitcoin payments for its agents and customers.
Fathom Holdings To Buy Up to $500,000 In BTC
Fathom Holdings can now allocate up to 50% of its excess cash-calculated based on estimated six-month operating expenses-toward Bitcoin purchases. As needed, this allocation will be adjusted to align with the Company’s operational requirements and prevailing market conditions. Under this strategy, the Company plans to purchase up to $500,000 in Bitcoin or Bitcoin exchange-traded funds during the next two weeks.
Fathom made this change to allow it to diversify its treasury holdings, which previously consisted solely of U.S. dollars. This initiative also supports Fathom’s mission as a technology innovator by integrating Bitcoin as a future payment option within its real estate ecosystem.
Bitcoin’s Growing Acceptance
Fathom CFO Joanne Zach highlighted that Bitcoin’s growing acceptance as a decentralized store of value and rising demand for alternative digital currencies are clear, with significant global investments in Bitcoin expected in 2024.
“The integration of Bitcoin into commercial and financial strategies has accelerated across financial markets, positioning it as both a hedge against inflation and a safeguard against economic and currency risks in the global economy.”
Fathom CEO Marco Fregenal added: “Fathom has always been an innovator in the digital economy. Establishing a Bitcoin treasury strategy and our plans to enable Bitcoin as a payment option align perfectly with our core mission of driving efficiencies in real estate transactions through our software platform.”
Further Details Coming Up
The Further details on Fathom’s Bitcoin treasury strategy will be included in its Current Report on Form 8-K, to be filed with the U.S. SEC around January 23, 2025.
Fathom Holdings reported a 10% year-over-year decrease in Q3 2024 revenue, amounting to $83.7 million, and an adjusted EBITDA loss of $1.4 million. Despite these setbacks, the company has been proactive in implementing growth strategies, including the acquisition of My Home Group, anticipated to significantly boost future revenue.
