TechFlow news, January 7 — According to CoinDesk, following MicroStrategy's pioneering move in 2020 to include Bitcoin on its balance sheet, a new wave of corporate Bitcoin adoption is emerging. KULR Technology Group, listed on the NYSE, recently announced the purchase of $21 million worth of Bitcoin, bringing its total holdings to 430 BTC at an average acquisition price of $98,393 per coin. Since November 19 last year, KULR's stock price has surged by 847%.
In addition, several publicly traded companies have announced Bitcoin reserve strategies but have not yet executed purchases:
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Acurx Pharmaceuticals (ACXP), listed on Nasdaq, had its board approve on November 20 the purchase of up to $1 million in Bitcoin;
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Hoth Therapeutics (HOTH), also Nasdaq-listed, received board approval for a $1 million Bitcoin purchase plan;
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LQR House (YHC), listed on Nasdaq, announced on November 19 a $1 million Bitcoin reserve strategy, accepted cryptocurrency payments, and committed to holding up to $10 million in crypto receipts as Bitcoin;
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SOS Limited (SOS), listed on the NYSE, approved on November 27 a $50 million Bitcoin purchase plan;
Since LQR House’s announcement, its share price has risen 56%, while other companies have shown mixed performance. ACXP shares dropped 35%, HOTH gained 2%, and SOS declined 30%. This trend indicates that investor reactions to corporate Bitcoin adoption strategies are varied, and actual execution will be a key determinant of market response.
