Public company Banzai allocates 10% of funds to purchase bitcoin.
According to a press release from American public company Banzai International, the company’s board has authorized Banzai to use corporate funds to purchase and hold a certain amount of bitcoin for financial asset diversification and to hedge against inflation. Banzai stated it will use up to 10% of its corporate treasury account funds to purchase bitcoin.
Banzai is a marketing technology company that provides AI marketing and sales solutions for businesses of all sizes. Banzai CEO Joe Davy stated that bitcoin will diversify the company's treasury and create long-term value for shareholders and the company.
As support and institutional adoption increase, bitcoin is rapidly becoming a major asset class. This diversification strategy aligns with other recent improvements to our balance sheet and cost structure, laying the foundation for our future sustainable profitability.
U.S. public companies adopting bitcoin reserve strategies.
Driven by multiple factors such as the listing of bitcoin ETFs and Trump's election victory, MicroStrategy's bitcoin strategy has been highly successful, leading to an increasing number of U.S. public companies that had previously not engaged with cryptocurrencies beginning to emulate its strategy, announcing this year their intention to include bitcoin in the company's financial reserve assets. So far, these companies include but are not limited to:
Fitness equipment manufacturer Interactive Strength - approved the allocation of up to $5 million to purchase bitcoin.
Medical company Semler Scientific - holds a total of 1,570 bitcoins.
Artificial intelligence company Genius Group - invested $14 million to purchase 153 bitcoins.
Biotechnology company Enlivex Therapeutics - board approved the purchase of up to $1 million in bitcoin.
Video sharing platform Rumble - board approved the purchase of up to $20 million in bitcoin.
Biotechnology company Anixa Biosciences - board approved the purchase of bitcoin, specific amount unknown.
Alcohol e-commerce company LQR House - board approved the purchase of up to $1 million in bitcoin.
3D printing company Steakholder Foods - board approved the purchase of up to $1 million in bitcoin.
Plant-based health technology company Jiva Technologies - board approved the purchase of up to $1 million in bitcoin.
Marketing company Thumzup Media Corp - board approved the purchase of up to $1 million in bitcoin.
Additionally, according to previous reports by Zombit, tech giant Microsoft will decide at the shareholder meeting on December 10 whether to include bitcoin in the company's financial reserve assets.
Source
