- Bitcoin adoption grows as public companies like KULR integrate it into their finances.
- KULR’s Bitcoin strategy yields 93.7%, showcasing crypto’s financial potential.
- Companies like Acurx and Hoth are joining the trend and exploring Bitcoin’s opportunities.
Bitcoin (BTC) is undergoing a second wave of adoption as publicly traded companies begin incorporating it into their financial planning. These companies follow MicroStrategy’s and others’ footsteps as they look to Bitcoin to reconfigure their books. The move underlines a trend of seeking diversification opportunities and potential monetary gains within the crypto space.
KULR Leads Adoption
Based on the New York Stock Exchange, KULR Technology Group Inc. (KULR) has become a key player in this new revolution. The company revealed a $21 million Bitcoin buy, which increased its current holdings to 430 BTC. The tokens were bought at an average of $98,393 per token through the company’s ATM equity program and cash reserves. From November 19th to December 17th, KULR’s share price has skyrocketed by 847%.
Aside from its Bitcoin purchase, KULR has also engaged in a Bitcoin yield strategy, which has shown a phenomenal 93.7% yield from December 2024 to January 2025. This demonstrates the possible financial returns that can be made by firms that have included Bitcoin in their treasury management systems.
Hoth Explores Bitcoin
Other companies have also joined the Bitcoin market, but more conservatively. On November 20, Acurx Pharmaceuticals, a Nasdaq-traded company, announced it had authorized the purchase of $1 million in Bitcoin. Its shares are up 30% year-to-date but have dropped 35% since November 19.
Hoth Therapeutics (HOTH), also trading on Nasdaq, unveiled a similar plan to buy $1 million in Bitcoin on November 20th. Similar to Acurx, Hoth has not made any move concerning its approval. However, its share price has risen by 2% since November 19, indicating that investors have some confidence in the company’s plans.
Another Nasdaq-listed firm, LQR House (YHC), shared plans on November 19th to keep 10 million worth of Bitcoin from the cryptocurrency payments received. The most audacious is NYSE-listed SOS Limited (SOS), which committed to buying $50m of Bitcoin on November 27.
The second wave of public companies accepting Bitcoin as a payment method is proof of the growing acceptance of cryptocurrency in the financial world. However, some companies remain reluctant to use Bitcoin, which is gradually becoming a key element of many business plans.
