Analysis: Several listed companies are following MicroStrategy's example by incorporating Bitcoin into their balance sheets

Odaily Planet Daily reports that as interest in digital assets continues to grow, Bitcoin's corporate adoption seems to be entering a new phase, with several publicly traded companies following in MicroStrategy's footsteps by incorporating Bitcoin into their balance sheets. In 2024, several companies began to emulate and adopt Bitcoin financial strategies, including Metaplanet (3350), Semler Scientific (SMLR), and MARA Holdings (MARA).

The first company in this second wave is KULR Technology Group (KULR), which is listed on the NYSE.

As of January 7, there have also been announcements from some publicly listed companies about Bitcoin financial strategies, though no Bitcoin purchases have been made yet.

First is Acurx Pharmaceuticals (ACXP), listed on NASDAQ. Its board approved a plan on November 20 to purchase up to $1 million in Bitcoin. Since November 19, its stock price has fallen 35%, but it has risen 30% since the beginning of the year.

Similarly, Hoth Therapeutics (HOTH), also listed on NASDAQ, had its board approve a $1 million Bitcoin purchase plan on November 20, yet the purchase has not been completed. However, its stock price has increased 2% since November 19. The third company is LQR House (YHC) on NASDAQ, which announced on November 19 that it accepts cryptocurrency payments and retains up to $10 million in Bitcoin payments by policy. To date, its stock price has risen 56% since November 19.

Lastly, SOS Limited (SOS), listed on the NYSE, approved a $50 million Bitcoin purchase plan on November 27. At the time of the announcement, Bitcoin's price was $93,000 per coin. Since November 19, its stock price has decreased by 30%.