Emily Walker
Following Donald Trump’s call for a Bitcoin reserve during his speech at the National Bitcoin Conference in Nashville, the interest in Bitcoin (BTC) has surged among nations and companies. Just this month, nine prominent enterprises spanning sectors like finance, healthcare, and artificial intelligence (AI) have opted to integrate the cryptocurrency into their reserve strategies.
Bitcoin: A Reserve Strategy
One notable company making strides is Rumble, a video platform targeting conservative viewers. They shared plans to invest up to $20 million of their surplus cash into Bitcoin. Chris Pavlovski, the chairman and CEO, spoke on the longevity of Bitcoin, stating:
We see Bitcoin as still in its early adoption phase. Unlike fiat currencies, Bitcoin cannot be diluted by endless printing, making it a strong inflation hedge and a valuable asset for our treasury.
In a similar move, LQR House, an e-commerce company, is set to invest up to $1 million in Bitcoin as part of its new strategic direction.
Additionally, Japan’s Remixpoint, active in energy and automotive, plans to invest 500 million yen (around $3.27 million) in Bitcoin, bringing its total cryptocurrency investments to 3.5 billion yen ($22.92 million) as announced.
In AI, Genius Group has also expanded its Bitcoin holdings by an additional $4 million, raising its total BTC investments to 153 coins valued at $14 million. This is part of their commitment to a “Bitcoin-first” approach, with plans to allocate over 90% of their reserves into Bitcoin, initially targeting $120 million as stated.
Adoption in Healthcare and Media
The healthcare sector is not lagging, as Cosmos, an International Healthcare group, has integrated Bitcoin and Ethereum (ETH) into their reserve strategy, signaling a forward-looking investment approach.
Hoth Therapeutics and Acurx Pharmaceuticals have both approved spending up to $1 million on BTC, viewing it as a “strong treasury reserve asset” due to rising institutional interest and the recent approval of crypto ETFs in the US.
Moreover, Thumzup Media Corp, a provider of social media branding and marketing solutions, has also made headlines; its Board approved a $1 million Bitcoin investment. CEO Robert Steele emphasized the growing demand for BTC, highlighting its finite supply and resistance to inflation as key reasons for its inclusion in their strategy.
Lastly, Canadian firm Jiva Technologies announced plans to weave Bitcoin into its reserve plans with an investment of up to $1 million. CEO Lorne Rapkin pointed to BTC’s increasing status as a dependable asset and a shield against inflation, reflecting a broader trend of financial diversification.
Currently, Bitcoin is trading at $96,250, marking a 5% increase in the past 24 hours.
Image credit: DALL-E, chart by TradingView.com