Corporate adoption of bitcoin as a treasury asset is gaining momentum. KULR Technology Group, listed on the NYSE, recently announced a $21 million bitcoin purchase, bringing its total holdings to 430 BTC at an average price of $98,393 per token. This move has resulted in an 847% increase in KULR’s share price since November 19. Other companies like Acurx Pharmaceuticals, Hoth Therapeutics, LQR House, and SOS Limited have also approved bitcoin treasury strategies, with allocations ranging from $1 million to $50 million. However, these firms have yet to acquire any bitcoin. LQR House, which also accepts cryptocurrency payments, has seen its share price rise by 56% since the announcement. Despite some companies experiencing share price declines, the trend of corporate bitcoin adoption continues to grow, with firms leveraging various financial strategies to fund their purchases.
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