Analysis: The Next Wave of Corporate Bitcoin Adoption Is Coming

BlockBeats News, January 7th, as interest in digital assets continues to grow, Bitcoin's corporate adoption seems to be entering a new stage, with multiple publicly traded companies emulating MicroStrategy and adding Bitcoin to their balance sheets.

By 2024, several companies began emulating and adopting a Bitcoin financial strategy, such as Metaplanet (3350), Semler Scientific (SMLR), MARA Holdings (MARA), and others. The first company in the second wave was KULR Technology Group (KULR), which is listed on the NYSE.

As of January 7th, it appears that some publicly traded companies have announced Bitcoin financial strategies but have not yet made any Bitcoin purchases. First is Acurx Pharmaceuticals (ACXP), listed on the NASDAQ. Its board approved a plan to purchase up to $1 million in Bitcoin on November 20th. Since November 19th, its stock price has fallen by 35%, but has risen by 30% year-to-date.

Similarly, there is NASDAQ-listed company Hoth Therapeutics (HOTH), whose board also approved a $1 million Bitcoin purchase plan on November 20th but has not completed the purchase yet. However, its stock price has risen by 2% since November 19th.

The third company is NASDAQ-listed LQR House (YHC). The company announced on November 19th that it would accept cryptocurrency payments and hold up to $10 million in Bitcoin funds through its policy. As of now, its stock price has risen by 56% since November 19th.

The last company is SOS Limited (SOS), listed on the NYSE, which approved a $50 million Bitcoin purchase plan on November 27th. At the time of the announcement, the price of Bitcoin was $93,000 per coin. Since November 19th, its stock price has fallen by 30%.