Thumzup Media declared its first BTC purchase worth $1 million.
KULR Technology creased its Bitcoin holdings to $42 million, aligning with its strategy to allocate 90% of liquid assets to BTC.
MicroStrategy added 1,070 BTC worth $101 million, continuing its weekly Bitcoin buying spree started in November.
Two publicly traded companies announced BTC purchases this week, imitating MicroStrategy's crypto-focused treasury model. These developments come as firms increasingly diversify their assets by acquiring the world's largest digital asset.
Social Media Firm Makes First Bitcoin Investment
Thumzup Media, a social media based in LA as a marketing company, announced its first Bitcoin purchase, acquiring approximately $1 million in the asset. The statement, made on Tuesday, marks the company’s initial incursion into crypto as part of its wider approach. Besides investing, Thumzup plans to pay its contractors in Bitcoin within the coming weeks. The company’s stock stayed steady at around $4 following the announcement but has since declined by 7% over the last 24 hours.
Energy Firm Increases Bitcoin Holdings
KULR Technology Group, based in San Diego, noted a $21 million Bitcoin acquisition, doubling its total holdings to $42 million. The enterprise, specializing in energy storage solutions for aerospace and defense, made its first purchase less than two weeks ago. Following the announcement, KULR’s stock price stood at $2.78, reflecting a 27% decrease. The company plans to allocate up to 90% of its liquid assets to BTC, aligning with MicroStrategy’s model.
MicroStrategy Continues Aggressive Bitcoin Acquisitions
MicroStrategy, the software company known for its substantial Bitcoin holdings, purchased an additional 1,070 BTC this week. The acquisition, valued at $101 million, brings the company’s Bitcoin treasury to an unprecedented level.
According to filings, the average purchase price was $94,004 per Bitcoin. This purchase represents half of the amount MicroStrategy acquired last week, consistent with its weekly buying strategy initiated in November.
Currently, Bitcoin is trading at $95,000, which is a high of mid December when it was sold at $108,000. The cryptocurrency has seen highs and lows but has yet to lose favor with publicly traded firms.
While biotech firms Acurx Pharmaceuticals, Hoth Therapeutics and Enlivex Therapeutics started investing in Bitcoin in late 2024, the Spark Therapeutics and Sutro Biopharma investors cut back just two months later. BlackRock was the first out of the pond with a spot Bitcoin ETF in the U.S. and Metaplanet globetrotting to grab lots in its own way.
