Corporate Bitcoin adoption continues to gain momentum worldwide. Notably, Sweden's H100 Group and China's Jiuzi Holdings have made significant moves in this direction by acquiring cryptocurrency.
H100 Group's Investment in Bitcoin
Swedish health technology company H100 Group AB acquired 4.39 Bitcoin for 5 million Norwegian krone (approximately $490,830). According to Bitcoin Magazine, this marked a significant milestone as H100 became the first publicly listed company in Sweden to adopt Bitcoin as a treasury reserve asset. The company's shares rose 37% after the purchase, closing at 1.22 Swedish krona.
Jiuzi Holdings' Plans for Bitcoin Acquisition
Chinese electric vehicle retailer Jiuzi Holdings plans to acquire 1,000 Bitcoin over the next year. CEO Tao Li expressed confidence that this investment will enhance the company’s asset structure and profitability. Jiuzi Holdings shares also rose 7.3% following the announcement of its purchase plans.
Expansion of Corporate Bitcoin Adoption
According to BitcoinTreasuries.NET data, 109 public companies currently hold Bitcoin. Projections suggest this number will continue to grow. Reports from CoinDesk and other sources indicate that companies like Strategy are leading the trend by increasing their Bitcoin reserves.
The significant investments in Bitcoin by H100 Group and Jiuzi Holdings highlight the growing recognition of cryptocurrencies as important assets in corporate finance. This trend is likely to continue as more companies begin to consider Bitcoin in their strategies.
