Bitcoin (BTC) adoption by US-listed public companies continues at full steam.
The latest purchase comes from Genius Group (GNS), which is listed on the New York Stock Exchange. On January 10, GNS reported increasing its bitcoin holdings to $35 million, which was ahead of its scheduled goal of $120 million. In the process, he acquired 372 BTC at an average price of $94,047 per bitcoin. The first announcement came on November 12, when it announced its “Bitcoin first” strategy.
On Tuesday, GNS also reported a rights offering, which will allow shareholders to buy 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 seeking loans to accumulate bitcoins. GNS shares closed 7% higher on Tuesday.
In addition to GNS, Nasdaq-listed Ming Shing Group (MSW), a wet trading service provider, also purchased 500 BTC at an average price of $94,375 per bitcoin. MSW stock is up 43% so far this year.
The new wave of bitcoin treasury adoption is moving forward with four publicly traded companies announcing bitcoin purchases and seven companies announcing a strategy, but no acquisitions.
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