In the wake of President-elect Donald Trump’s proposal for a strategic Bitcoin (BTC) reserve at the National Bitcoin Conference in Nashville earlier this year, there has been a noticeable uptick in BTC adoption by various countries and companies. This month alone, nine major firms from diverse sectors, including finance, healthcare, and artificial intelligence (AI), have embraced the leading cryptocurrency as a strategic reserve asset.
Bitcoin As A Strategic Reserve Asset
One significant player making headlines is Rumble, a video platform catering to conservative audiences. The company announced its intention to allocate a portion of its excess cash reserves—up to $20 million—into Bitcoin. Rumble’s chairman and CEO, Chris Pavlovski, emphasized BTC’s long-term potential, stating:
We believe that the world is still in the early stages of the adoption of Bitcoin. Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury.
Similarly, LQR House, a specialized e-commerce platform, revealed its strategic pivot towards cryptocurrency, planning to purchase up to $1 million in Bitcoin as part of its new business strategy.
Japanese firm Remixpoint, which operates in the energy and automotive sectors, announced plans to acquire BTC worth 500 million yen (approximately $3.27 million). This purchase will expand the company’s total crypto holdings to around 3.5 billion yen ($22.92 million).
In the artificial intelligence sector, Genius Group has also ramped up its Bitcoin investments, increasing its BTC Treasury by an additional $4 million, bringing its total to 153 coins valued at $14 million.
This decision follows the company’s earlier announcement of a “Bitcoin-first” strategy, pledging to allocate 90% or more of its current and future reserves into BTC, with an initial target of $120 million.
Key For Healthcare Firms And Media Companies
The healthcare industry is not lagging behind, with International Healthcare group Cosmos recently incorporating Bitcoin and Ethereum (ETH) into its treasury reserves as part of a forward-looking investment strategy.
Hoth Therapeutics and Acurx Pharmaceuticals have both approved purchases of up to $1 million in BTC, recognizing its potential as a “robust treasury reserve asset” amid increasing institutional interest and the approval of crypto exchange-traded funds (ETFs) in the US.
Thumzup Media Corp, a social media branding and marketing solutions provider, has also joined the trend, with its Board of Directors approving a $1 million investment in Bitcoin.
CEO Robert Steele noted BTC’s increasing demand and recognition as a leading asset class, calling it a strong addition to their treasury strategy due to its finite supply and “inflation-resistant characteristics.”
Lastly, Canadian company Jiva Technologies announced plans to integrate Bitcoin into its treasury strategy, approving an investment of up to $1 million. CEO Lorne Rapkin highlighted BTC’s growing reputation as a reliable asset class and a hedge against inflation, reflecting a broader trend toward diversifying financial holdings.
At the time of writing, BTC was trading at $96,250, up 5% in the last 24 hours.
Featured image from DALL-E, chart from TradingView.com
