a The number of public companies is increasing We stockpile digital assets at the corporate Ministry of Finance. This is a sign of increased interest in crypto as prices rise.
But things have become strange as more companies mimicked the Token Hadring playbook of software company strategy.
Several public companies with unorthodox operating companies are beginning to add Bitcoin and other cryptocurrencies to their balance sheets. The noodle giant, love hotel operator, telemedicine cannabis prescribers are one of the mix.
What prompted you to accept Bitcoin and other cryptocurrencies?
Some hope they can turn to tokens to save a struggling business, while others may intend to capture the recent tailwinds. And they are faithfully stacking Satoshi and other assets. This is despite experts warning that adding codes to their balance sheets doesn’t necessarily save companies that are not operating.
“Most new ‘finance companies’ are gimmicks and will likely fail,” said Andrew Bailey, senior fellow at the Bitcoin Policy Institute. Decryption June. “A business that runs badly is not a good business just because it earns healthy money.”
Whether they’re on a stable footing as a business, these five crypto pivots certainly turned our heads. Here are five of the most curious and unexpected cryptocurrency companies we’ve seen.
DDC Enterprise
Asian-style food giant DDC Enterprise It’s one of the latest companies to embrace the crypto trend. Earlier this month, DDC announced it had shut down a massive $528 million salary increase with the aim of using revenue to build the Bitcoin Treasury Department.
The Hong Kong-based company owns several handy food lines, including Thai from Thai-American food brand Yai, and an Asian-style noodles and soup line called Nonalim. It also owns DaydayCook, a platform for sharing recipes.
The company owns 368 BTC in early July, according to one of its recent statements. These holdings were recently worth $43.4 million based on current Coingecko price data.
And the company has really embraced pivots. “DDC” previously represented “DaydayCook,” while the company “decentralizes digital capital” on its LinkedIn page and elsewhere. Now it’s an amazing pivot from the food brand.
Dogecoin Cash Inc.
Dogecoin Cash Inc. has accumulated millions of dollars worth of Dogecoin Cash, a counterfeit coin inspired by Elon Musk’s favorite cryptocurrency. And while that may make sense, given the company’s name, the pivot that got it was certainly interesting.
Previously known as Cannabis Sativia, the Canadian company still runs the business High-performance cannabis products. In fact, it holds the first patented cannabis strain, Ecuadorian sativa or “CTA,” and the patent for cannabis lozenges for hypertensive individuals, according to one of its official statements. It also operates a telehealth business called Prestodoctor, which appears to focus primarily on medicinal cannabis.
This summer, the company signaled that it would maintain Dogcoin Treasury Ministry – Authentic Dogecoin, aka Doge – a sign that doubles in strategy-inspired playbooks through fully owned subsidiary.
As of June 13, the company had 2,020,000,000 Dogecoin Cash (dog). statement From the company show. The token holdings have been worth $3.5 million recently.
Dogecoin’s company’s acquisition target remains unknown at the time of publication.
Metaplanet
Metaplanet, which often claimed a “Japanese strategy,” maintained an unusual non-Bitcoin-related business long before it held its assets.
Founded in 1999, Metaplanet manages budget hotels such as Love Hotels throughout Japan.
A so-called love hotel is a type of motel that offers rooms per hour and other short-term accommodation for individuals, couples and groups looking for a private place. ahempersonal encounters. (There is no judgment!)
Metaplanet has become one of the most enthusiastic acolites of the strategic model. Based on current prices, 15,555 Bitcoins worth $1.844 billion; data From bitcointreasuries.net.
Solar Bank
Canada-based solar bank Renewable energy developer, engineer, builder and asset operator.
But while defending clean energy, they are also committed to adding infamous, dirty assets to Bitcoin, the balance sheet. BTC critics have raised concerns about its extreme energy consumption, but not fair, but defenders say renewables are a significant growth part of its support.
Solarbank announced plans in June to buy Bitcoin to establish the Bitcoin Treasury Ministry using tokens. However, the company has yet to disclose how many tokens it plans to snap up.
Sharplink Games
Gambling Marketing Company Sharplink Gaming has made a big bet on popular cryptocurrencies and has taken its own gamble.
The Minneapolis-based company announced in May that it acquired more than $400 million in Ethereum, becoming the largest owner of the token among publicly traded companies. At the time of this writing, the company currently holds approximately $644 million worth of ETH, including $30 million purchased directly from the Ethereum Foundation since its recent purchase.
Founded in 2019, Sharplink uses technology to match sports betting companies and fans. Use AI-powered tools to collect and analyze gamblers’ online behavior, direct them towards relevant betting content, and hopefully convert them to paid customers.
Ethereum is not as popular as Bitcoin, and certainly doesn’t look at the types of recent profits posted by BTC, making this a potentially dangerous pivot. However, we’ve seen more companies following Sharplink’s leads, and ETH has recently surpassed $3,000 for the first time in five months.
