Traditional companies enter the crypto treasury game with BTC, XRP and SOL buys
Main Idea
Traditional companies like Nature’s Miracle, Upexi, and Japan's Kitabo are adopting cryptocurrencies such as Bitcoin, XRP, and Solana for their corporate treasuries, reflecting a shift in how businesses view crypto's role.
Key Points
1. Nature’s Miracle, an agricultural technology company, announced an allocation of up to $20 million for an XRP corporate treasury.
2. Consumer manufacturing company Upexi disclosed the acquisition of 83,000 SOL, valued at $16.7 million, for its corporate treasury.
3. Japan's Kitabo, a textile and recycling company, revealed plans to buy 800 million Japanese yen (about $5.6 million) of Bitcoin for its company reserve.
4. A June report suggested that only a few Bitcoin treasury companies will survive, with risks of market cycles causing significant drawdowns.
5. Altcoins are seen as riskier compared to Bitcoin, which has a perceived floor independent of market cycles.
Description
Nature’s Miracle, Upexi and Japan's Kitabo are the latest companies adopting crypto treasury strategies.
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