A growing number of publicly traded companies are incorporating Bitcoin into their financial strategies in the U.S.
Recent announcements from firms like Thumzup Media and KULR Technology Group reflect this trend. These moves underscore Bitcoin’s increasing role as a treasury asset for businesses worldwide.
Bitcoin Acquisitions by Thumzup and KULR
Thumzup Media, a Los Angeles-based social media marketing firm, revealed its first Bitcoin purchase this week, totaling approximately $1 million. The company intended to hold up to 90% of its liquid assets in Bitcoin. Moreover, Thumzup plans to implement Bitcoin payments for contractors in the coming weeks.
Similarly, San Diego-based KULR Technology Group, an energy storage solutions provider for aerospace and defense, announced a $21 million Bitcoin purchase. This latest acquisition doubles the firm’s holdings, bringing its Bitcoin treasury to $42 million.
KULR made its initial Bitcoin investment less than two weeks ago and aims to allocate up to 90% of its liquid assets to Bitcoin.
Other US Companies Holding Bitcoin
With this latest move, Thumzup Media and KULR have joined the growing list of major U.S. companies investing in Bitcoin. Data from Bitcointreasuries.net highlights over 152 public U.S. corporations holding Bitcoin. Remarkably, they boast a corrective holding of 2.95 million BTC tokens.
MicroStrategy leads the pack with its most recent acquisition of 1,070 BTC at a cost of $101 million. This addition brings the company’s total Bitcoin holdings to an impressive 447,470 BTC as of January 6, 2025.
Industry Experts Speak
Beyond these U.S.-based firms, Bitcoin adoption continues to grow globally. Galaxy Digital CEO Michael Novogratz highlighted the increasing global attention Bitcoin is receiving in a statement. He attributed much of the interest to U.S. President-elect Donald Trump’s endorsement of the cryptocurrency.
He observed that while Trump’s praise for Bitcoin has brought it into the spotlight, other nations are closely monitoring its potential and implications. According to Novogratz, Trump’s proposal to establish a strategic Bitcoin reserve has prompted other countries to consider similar measures.
Bhutan’s New Reserve Asset with Bitcoin
Furthermore, in South Asia, Bhutan’s newly established Gelephu Mindfulness City (GMC) became one of the first regions to integrate digital assets into its strategic reserves.
In its financial strategy, GMC plans to prioritize high-liquidity digital assets, including Bitcoin, Ethereum, and Binance Coin. The move follows the enactment of the Application of Laws Act 2024, which introduced a regulatory framework for digital assets within the region.
The strategy emphasizes selecting digital assets with substantial market capitalization and strong liquidity. These attributes are crucial to ensure the assets can be traded efficiently with minimal influence on market prices.
Furthermore, the region has outlined its commitment to exclusively utilizing assets originating from secure and well-established blockchain networks.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
