Know Labs to Acquire $105 Million in Bitcoin for Treasury
- Know Labs plans to purchase 1,000 Bitcoin, valued at approximately $105 million.
- Greg Kidd, a fintech investor, is acquiring a controlling interest in Know Labs and will become CEO.
- The company’s stock price rose by 71% after the announcement.
- Bitcoin’s price recently increased by 8%, trading at $105,031.
- Public companies increasingly adopt Bitcoin as part of their treasury strategy.
Healthtech firm Know Labs intends to acquire 1,000 Bitcoin worth around $105 million. Fintech investor Greg Kidd will take over as CEO following his acquisition of a controlling share in the company. This move aligns with a growing trend among public companies to hold cryptocurrencies as reserve assets.
Source (2.6)https://decrypt.co/323987/early-twitter-investor-builds-100-million-bitcoin-treasury-public-company?rand=52368
