Simply put
- HealthTech Firm plans to purchase 1,000 Bitcoin for its Corporate Treasury, valued at over $100 million.
- Fintech investor Greg Kidd has acquired a significant stake in the company and will become the CEO after the deal is finalized.
- Know Labs is among the latest public companies to initiate Bitcoin purchases.
Another public company, not deeply involved in the cryptocurrency sector before, is stepping into the Bitcoin market to bolster its finances.
Health technology firms are looking at a plan to purchase 1,000 Bitcoin. In a recent announcement, Greg Kidd, a well-known Fintech investor, detailed his intent to take control of the company.
“We are enthusiastic about launching our Bitcoin strategy with the backing of forward-thinking firms like Know Labs during this favorable market and regulatory climate,” Kidd stated. “This strategy aims to foster sustainable growth and enhance shareholder value.”
It seems the lab hasn’t provided a comment yet on a request.
Recently, Bitcoin has surged by 8%, hitting $105,031, as per data from Coingecko. The shares of Labs are currently at $0.87, having risen 71% since Thursday’s close.
Kidd is expected to appoint the lab’s new CEO once the transaction is completed. Investors are typically attracted to emerging tech and cryptocurrency startups, having previously backed names like Twitter, Coinbase, Solana, Block, and Robinhood.
The upcoming strategy shift includes: Public companies focusing on software and Bitcoin holdings to support Bitcoin financing efforts, with an estimated combined cryptocurrency value of around $61 billion.
At least five public companies are currently involved, most of which have had minimal engagement with the crypto industry, highlighting a trend of Bitcoin treasury adoption among data analytics firms as noted in a June 3 report. This list may expand further, potentially including entities like the Norwegian block exchange, SolarBank, and others. Know Labs, it seems, is keen on accumulating Bitcoin in recent days.
More public companies are also exploring acquiring various altcoins, including Solana, XRP, and Ethereum.
A public company associated with former President Donald Trump, a self-identified crypto advocate, is recognizing virtual tokens as reserve assets amid a regulatory shift favoring cryptocurrencies.
Since Trump’s inauguration in January, key regulatory bodies in the crypto space, like the Commodity Futures Trading Commission and the Securities and Exchange Commission, have seen changes in leadership, moving away from skeptical stances to a more tech-friendly approach.
Earlier this year, Trump signed an Executive Order supporting crypto initiatives, underscoring the administration’s commitment to the industry, which has been a significant source of political funding during the 2025 elections.
The directive also called for the US Treasury to accumulate Bitcoin and other digital currencies, alongside introducing regulations for crypto mining and self-sustaining protection.
