tl;dr
Health technology firm Know Labs plans to purchase 1,000 Bitcoin, worth approximately $105 million, and fintech investor Greg Kidd will acquire a controlling interest in the company, becoming its next CEO. Kidd supports deploying a Bitcoin treasury strategy to drive sustainable growth and shareholde...
Health technology firm Know Labs plans to purchase 1,000 Bitcoin, valued at approximately $105 million, and appoint fintech investor Greg Kidd as CEO to spearhead a Bitcoin treasury strategy aimed at sustainable growth and enhancing shareholder value.
Following this announcement, Know Labs' stock surged 71%, reflecting strong investor optimism amid favorable market conditions and a supportive regulatory environment.
Greg Kidd, renowned for early investments in major tech and cryptocurrency startups like Twitter, Coinbase, Solana, Block, and Robinhood, will lead the company’s transformation toward cryptocurrency holdings.
This move aligns with a growing trend among public companies diversifying their reserves with Bitcoin and various altcoins. Many of these companies previously had little exposure to the crypto industry but are now building Bitcoin treasuries to capitalize on the booming digital asset market.
The shift comes as the U.S. government, under President Donald Trump, enacts pro-crypto policies and regulatory changes fostering a more crypto-friendly atmosphere. These include directives for the Treasury to accumulate Bitcoin and other cryptocurrencies, as well as protections for crypto mining and self-custody.
As a result, a growing number of publicly traded firms are accumulating significant amounts of virtual tokens such as Solana, XRP, and Ethereum in addition to Bitcoin, marking a broader acceptance of cryptocurrencies as strategic reserve assets.
Know Labs joins an expanding list of companies embracing this approach, following examples like Strategy, which holds nearly $61 billion in Bitcoin, and new entrants including Norwegian Block Exchange and SolarBank.
With Bitcoin trading around $105,031 and increasing by 8% over the past month, the timing appears ripe for Know Labs and similar firms to leverage cryptocurrencies as a cornerstone for future growth.
Investors and market watchers are encouraged to consider how such treasury strategies may influence corporate finance practices and drive long-term value in an evolving regulatory landscape.