Analysis: The next wave of corporate Bitcoin adoption is about to arrive
ChainCatcher news, according to CoinDesk, as interest in digital assets continues to grow, the corporate adoption of Bitcoin seems to be entering a new phase, with several publicly traded companies following MicroStrategy's lead by incorporating Bitcoin into their balance sheets.
In 2024, multiple companies began to emulate and adopt Bitcoin financial strategies, such as Metaplanet (3350), Semler Scientific (SMLR), and MARA Holdings (MARA). The first company in the second wave is KULR Technology Group (KULR), which is listed on the NYSE.
As of January 7, it seems that some publicly listed companies have announced Bitcoin financial strategies but have not yet made any Bitcoin purchases. First is Acurx Pharmaceuticals (ACXP), listed on NASDAQ. Its board approved a Bitcoin purchase plan of up to $1 million on November 20. Since November 19, its stock price has dropped by 35%, but it has risen by 30% year-to-date.
Similarly, NASDAQ-listed Hoth Therapeutics (HOTH) also had its board approve a $1 million Bitcoin purchase plan on November 20, but it has not completed the purchase. However, since November 19, its stock price has increased by 2%.
The third company is NASDAQ-listed LQR House (YHC). The company announced on November 19 that it would accept cryptocurrency payments and retain up to $10 million in Bitcoin payment funds through policy. To date, its stock price has risen by 56% since November 19.
The last one is NYSE-listed SOS Limited (SOS), which approved a $50 million Bitcoin purchase plan on November 27. At the time of the announcement, the price of Bitcoin was $93,000 each. Since November 19, its stock price has dropped by 30%.
