Two publicly traded companies, Thumzup Media and KULR Technology Group, have recently added Bitcoin to their balance sheets. Thumzup Media announced its first Bitcoin purchase of approximately $1 million, while KULR Technology Group invested $21 million, increasing its total Bitcoin holdings to $42 million. Both companies aim to hold up to 90% of their liquid assets in Bitcoin; Thumzup also plans to start paying contractors in Bitcoin soon. This trend reflects a broader movement among firms inspired by MicroStrategy's significant Bitcoin holdings. Despite fluctuations in Bitcoin's value, which is currently around $95,000, more companies are investing in cryptocurrency, motivated by growing support from investors and regulatory bodies. Several biotech companies also joined this trend last year, with plans to invest up to $1 million each in Bitcoin, mirroring the activities of prominent firms like Tesla and Coinbase.

Source 🔗