The United States Cryptocurrency ATM operator Bitcoin depot has expanded its bitcoin holdings, which strengthens its commitment to the leading digital assets.
According to February AnnouncementThe publicly traded firm acquired an additional $ 5 million of bitcoin, which brought its total Treasury Holdings to 71.5 BTC to 71.5 BTC based on prices at the time of writing.
Commenting on the latest acquisition, Binty Depot CEO Brandon Mintz stated that it shows “a stores of a significant financial property and value” as the company’s “long -standing trust in bitcoin”. He said that this step allows shareholders to benefit from appreciation of any future price.
Established in 2016, the Bitcoin depot is the largest cryptocurrency ATM operator, with 8213 kiosks installed in the US, Canada and Puerto Rico, per, per, per, per, data From coinatmradar.
The company became the first American company in the Crypto ATM industry under Tick BTM at the NASDAQ Stock Exchange in July 2023, which was going publicly.
Broadly a year later, in June 2024, the company introduced its bitcoin treasury strategy, alloting a part of its cash reserve to bitcoin. Since then, bitcoin has increased by more than 63%.
However, the latest bitcoin procurement has yet turned upwards for the bitcoin depot shareholders, BTM is below 2.5% a day at the time of writing.
The Bitcoin depot joined the increasing number of publicly trading firms adopting the bitcoin treasury strategy, which after the leadership of the microstrate in integrating bitcoin as a corporate reserve asset.
The American Business Intelligence firm was the first publicly trading firm to carry forward the approach in 2020 and was over 471,000 BTC since then, its stand was over $ 46 billion.
Other publicly trading companies in the country who have recently added or expanded their BTC holdings include thermal energy management company Kulra Technology Group, Medical Device Maker Celmer Scientific, Antibiotics Developer Acurx, and Bitcoin Minor Reite Platforms .
The notion has also gained prominence outside the US, firms such as Genius Group in Singapore and Metaplanet in Japan have embraced bitcoins as a strategic property.
