Bitcoin (BTC) adoption by US-listed public companies continues in full swing.
The latest purchase is from NYSE-listed Genius Group (GNS). On January 10, GNS reported raising its bitcoin holdings to $35 million, ahead of its set target of $120 million. In the process, it acquired 372 BTC at an average price of $94,047 per bitcoin. The first announcement came on Nov. 12, when it announced its “Bitcoin-first” strategy.
On Tuesday, GNS also reported a offering rightswhich allows shareholders to purchase additional shares at discounted prices. If fully subscribed, the rights offering could generate $33 million. GNS founder and CEO Roger Hamilton intends to participate in the rights offering and purchase 500,000 shares.
The company is also pursuing loan finance to raise bitcoin. GNS shares closed 7% higher on Tuesday.
Besides GNS, listed on Nasdaq Ming Shing Group (MSW)a service provider of wet trades works, also bought 500 BTC at an average price of $94,375 per bitcoin. Shares of MSW are up 43% year-to-date.
The new wave of bitcoin treasury adoption is advancing with four publicly traded companies announcing bitcoin purchases and seven companies announcing a strategy, but no acquisition.
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