Board approves cryptocurrency treasury strategy

Boards of directors at several companies have recently approved strategies to incorporate cryptocurrencies into their treasury holdings. This trend, which began with companies like MicroStrategy, has seen an increase in institutional adoption. Here are some examples:

Actelis Networks, Inc. announced that its board approved a new treasury management strategy to allocate corporate funds to cryptocurrencies. The company plans to invest in established digital assets within the top 100 by market capitalization with a minimum market cap of $500 million. This move is intended to enhance financial flexibility and pursue long-term capital appreciation for shareholders.

ProPhase Labs, Inc.’s board of directors authorized management to explore a potential reverse merger with a digital asset-focused company and also approved a strategic treasury initiative to acquire and hold digital assets, including Bitcoin. The company’s management believes that a diversified treasury strategy that includes digital assets could enhance long-term shareholder value.

Thumzup Media Corporation, a Nasdaq-listed AdTech firm, received board approval to hold up to $250 million in crypto assets, including Bitcoin, Ethereum, Solana, XRP, Dogecoin, Litecoin, and the USDC stablecoin. The CEO cited positive policy shifts as a key factor in the decision.

Mogo, a Canadian digital wealth and lending platform, announced that its board authorized the allocation of up to $50 million to Bitcoin as part of its long-term capital preservation and product innovation strategy. The company also stated that it will assess all capital deployment decisions against a “Bitcoin hurdle rate,” only pursuing opportunities that are expected to outperform the long-term return profile of holding Bitcoin.

Boards of directors at several companies have recently approved strategies to incorporate cryptocurrencies into their treasury holdings. This trend, which began with companies like MicroStrategy, has seen an increase in institutional adoption. Here are some examples:

Actelis Networks, Inc. announced that its board approved a new treasury management strategy to allocate corporate funds to cryptocurrencies. The company plans to invest in established digital assets within the top 100 by market capitalization with a minimum market cap of $500 million. This move is intended to enhance financial flexibility and pursue long-term capital appreciation for shareholders.

ProPhase Labs, Inc.’s board of directors authorized management to explore a potential reverse merger with a digital asset-focused company and also approved a strategic treasury initiative to acquire and hold digital assets, including Bitcoin. The company’s management believes that a diversified treasury strategy that includes digital assets could enhance long-term shareholder value.

Thumzup Media Corporation, a Nasdaq-listed AdTech firm, received board approval to hold up to $250 million in crypto assets, including Bitcoin, Ethereum, Solana, XRP, Dogecoin, Litecoin, and the USDC stablecoin. The CEO cited positive policy shifts as a key factor in the decision.

Mogo, a Canadian digital wealth and lending platform, announced that its board authorized the allocation of up to $50 million to Bitcoin as part of its long-term capital preservation and product innovation strategy. The company also stated that it will assess all capital deployment decisions against a “Bitcoin hurdle rate,” only pursuing opportunities that are expected to outperform the long-term return profile of holding Bitcoin.

These companies are diversifying their balance sheets and leveraging digital assets for long-term growth. The trend is also being influenced by accounting updates allowing fair-value treatment of digital assets and regulatory clarity, such as the approval of spot Bitcoin ETFs in the U.S

These companies are diversifying their balance sheets and leveraging digital assets for long-term growth. The trend is also being influenced by accounting updates allowing fair-value treatment of digital assets and regulatory clarity, such as the approval of spot Bitcoin ETFs in the U.S