Corporate Bitcoin Adoption: The Next Big Wave is Here!

Summary:

Corporate adoption of bitcoin is increasing, with firms adding BTC to their balance sheets.
MicroStrategy led the way in 2020 with a 2,500% share price increase.
KULR Technology Group made a $21 million bitcoin purchase, bringing its total to 430 BTC.
Acurx Pharmaceuticals, Hoth Therapeutics, and LQR House have approved bitcoin purchases but have not yet acquired any.
KULR's share price is up 847% since November 19, showcasing the potential of this strategy.

The Next Wave of Corporate Bitcoin Adoption Seems to Be on Its Way

As interest in digital assets continues to rise, a new phase of corporate adoption for bitcoin (BTC) appears to be taking shape. Publicly listed firms are following MicroStrategy's lead by adding BTC to their balance sheets.

It all started with MicroStrategy (MSTR) adopting BTC as a treasury asset in 2020. Since then, its share price has skyrocketed by almost 2,500%. Over the years, the company has increased its coin holdings through various methods such as cash purchases, at-the-market (ATM) equity offerings, convertible debt, and more recently, preferred stock offerings.

In 2024, we saw multiple companies adopt a bitcoin treasury strategy, including Metaplanet (3350), Semler Scientific (SMLR), and MARA Holdings (MARA), along with several publicly traded miners experiencing significant success.

Now, more firms are joining the trend. For instance, KULR Technology Group (KULR) announced a $21 million bitcoin purchase, bringing its total holdings to 430 BTC at an average price of $98,393 per token. KULR has utilized a combination of an ATM equity program and surplus cash to fund its acquisition, achieving a BTC yield strategy of 93.7% from December 2024 to January 2025. Their share price has surged 847% since November 19.

As of January 7, several publicly traded companies have announced a bitcoin treasury strategy, although they have yet to make acquisitions:

Acurx Pharmaceuticals (ACXP) approved a purchase of up to $1 million in bitcoin but has not acquired any yet. Its share price is down 35% since November 19, although it has increased 30% year-to-date.
Hoth Therapeutics (HOTH), also on Nasdaq, similarly approved a $1 million bitcoin purchase with no acquisitions yet, but its share price is up 2% since November 19.
LQR House (YHC) announced a $1 million bitcoin purchase and plans to retain up to $10 million in bitcoin from cryptocurrency payments. Their share price is up 56% since November 19.
SOS Limited (SOS) approved a $50 million bitcoin purchase on November 27, with its share price down 30% since November 19.

In this second wave, KULR has seen significant share price appreciation compared to its peers, while LQR House stands out with a 57% increase in share price.

Wave 2 BTC Adoption