Several companies, including Bakkt, Smarter Web, and Genius Group, are making strategic decisions to increase their Bitcoin assets despite financial uncertainties.
Bakkt Prepares for Bitcoin Market
Bakkt Holdings Inc., a crypto subsidiary of Intercontinental Exchange, filed Form S-3 with the SEC to raise up to $1 billion through a variety of securities offerings. This capital could be used to purchase Bitcoin and other digital assets. As of this month, Bakkt updated its investment policy to allow allocations into digital assets, although it has not made any purchases yet. Future acquisitions will depend on market conditions and strategic factors. Bakkt's share price has declined by 46% year-to-date, although a modest uptick was observed last week.
Smarter Web Company Increases Bitcoin Holdings
UK-based Smarter Web raised £41.2 million from institutional investors following its acquisition of 196.8 Bitcoin for over $20 million. The company now holds 543.52 Bitcoin, valued at approximately $58.19 million. Smarter Web's stock performance has shown volatility, despite a year-to-date increase of over 270%.
Genius Group Plans Bitcoin Acquisition from Lawsuit Proceeds
Genius Group, an AI-driven education technology firm, plans to allocate proceeds from two lawsuits totaling over $1 billion for shareholder dividends and Bitcoin acquisitions. The company aims to acquire up to 5,000 Bitcoin. Genius Group has already increased its holdings by over 50% in June, targeting a total of 1,000 BTC.
Despite current financial challenges, companies are showing increased activity in Bitcoin, indicating potential shifts in corporate investment strategies.
