Bitcoin adoption among publicly traded companies continues to gain traction, with more firms making significant moves in the crypto space.
The latest to jump on the bandwagon is Genius Group (GNS), an NYSE-listed company. On January 10, GNS revealed that it had increased its bitcoin holdings to $35 million, surpassing its initial target of $120 million. The company acquired 372 BTC at an average price of $94,047 per bitcoin as part of its “Bitcoin-first” strategy announced in November 2024.
Alongside the bitcoin purchase, GNS also announced a rights offering, allowing shareholders to buy additional shares at a discounted price. If fully subscribed, the rights offering could raise $33 million. GNS founder and CEO, Roger Hamilton, plans to participate in the offering, purchasing 500,000 shares. The company is also exploring loan financing to further bolster its bitcoin holdings. GNS shares rose by 7% following the announcement on Tuesday.
Similarly, Nasdaq-listed Ming Shing Group (MSW), a company that provides wet trades services, made a notable acquisition of 500 BTC at an average price of $94,375 per bitcoin. MSW shares have increased by 43% year-to-date.
This continued wave of bitcoin treasury adoption is reshaping the crypto landscape, with four publicly traded companies now holding bitcoin and seven more planning to acquire the digital asset in the near future. Although no additional purchases have been made yet, the growing corporate interest reflects the increasing integration of bitcoin into corporate strategies.
