U.S. Listed Firms Continue Bitcoin (BTC) Treasury Adoption
The adoption of Bitcoin (BTC) by U.S.-listed public companies is progressing rapidly, with four firms recently announcing purchases. Notable purchases include NYSE-listed Genius Group, which increased its bitcoin treasury to $35 million by acquiring 372 BTC at an average price of $94,047 per coin, alongside a rights offering to raise an additional $33 million. Meanwhile, Nasdaq-listed Ming Shing acquired 500 BTC for $47 million at an average price of $94,375. In total, while four companies made purchases, seven others revealed strategies for potential acquisitions. The ongoing trend illustrates the growing integration of Bitcoin within corporate treasury strategies, bolstered by positive market reactions for the participating firms, including a 7% increase in Genius Group shares and a 43% rise for Ming Shing shares this year.
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