USDCorporate Crypto and Bitcoin Moves: $5M Buy, $10B Vote, Treasury Pressure
Genius Group Boosts Bitcoin Holdings to 372 BTC with $5 Million Purchase
Genius Group has strengthened its "bitcoin first" strategy with a recent $5 million purchase, raising its total Bitcoin holdings to 372 BTC, valued approximately at $35 million, with an average purchase price of $94,047 per BTC. This move aligns with the company's commitment to allocate 90% of its reserves in Bitcoin, targeting a total of $120 million in BTC. Within two months of announcing this strategy, Genius Group has already achieved 25% of its goal. As of January 9, 2025, the company's market capitalization is reported at $42 million, based on 66 million shares priced at $0.64 each, resulting in a bitcoin-to-price ratio of 83%. Additionally, Genius Group has increased its bitcoin loans with Arch Lending from $10 million to $14 million, positioning the loan-to-value ratio at 40%, further solidifying its commitment to Bitcoin as a central asset in its corporate treasury strategy.
MicroStrategy Plans $10B Share Authorization Vote on January 21 to Expand Bitcoin Holdings
MicroStrategy Inc. is scheduled to hold a crucial shareholder meeting on January 21, 2024, to vote on significant amendments aimed at expanding its Bitcoin treasury. The proposed amendment seeks to increase the Class A common stock from 330 million to 10.33 billion shares, a strategic move to reinforce its Bitcoin holdings as part of the 21/21 Plan initiated in October 2024. Additionally, shareholders will decide on the expansion of preferred stock from 5 million to 1.005 billion shares. With current share values around $331, if approved, MicroStrategy stands to raise considerable capital for further Bitcoin acquisitions. This initiative is seen as a pivotal step in solidifying the company’s position as the largest corporate Bitcoin holder while enhancing its overall financial capabilities and market activities.
Meta Urged to Adopt Bitcoin for Corporate Treasury Amid Growing Institutional Interest
Ethan Peck, representing the National Center for Public Policy Research, has submitted a proposal urging Meta to integrate Bitcoin into its corporate treasury, similarly to initiatives directed at Microsoft and Amazon. This proposal emphasizes Bitcoin’s inflation-resistant qualities, advocating for its adoption as a hedge against economic uncertainties. Citing successful adoption by companies like MicroStrategy, the proposal points out that MicroStrategy’s stock has outperformed the market by 2,191% over five years. The National Center previously suggested that Amazon allocate 5% of its assets to Bitcoin. The initiative underscores Bitcoin's fixed supply and its rising acceptance among institutional investors, positioning it as a strategic asset.
Heritage Distilling to Accept Bitcoin Payments and Hold Cryptocurrency as Strategic Asset
Heritage Distilling Company, listed on NASDAQ under the ticker CASK, announced its plans to accept cryptocurrency payments and hold it as a strategic asset. This initiative aims to enhance the company's position in the craft spirits market by allowing the acceptance of Bitcoin for online e-commerce transactions. CEO Justin Stiefel emphasized Heritage's innovative spirit, stating that the company is poised to lead the craft industry in cryptocurrency adoption. Before implementation, Heritage will develop a comprehensive policy plan for board approval, ensuring a structured approach to integrating cryptocurrency into its financial strategy. The company's entry into the cryptocurrency space reflects a growing trend among businesses to diversify payment options and incorporate digital assets into their treasury strategies.
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