The real estate services company listed on Nasdaq, Fathom Holdings, plans to add Bit to its corporate treasury, a move to diversify its balance sheet primarily denominated in US dollars.
According to the announcement on January 23, Fathom said it can currently allocate up to 50% of its excess cash reserves to purchase Bit. Initially, the company plans to allocate up to $500,000 to BTC or a spot Bit ETF.
Fathom said: "The allocation will be adjusted to align with the company's operational requirements and prevailing market conditions."
Fathom's Chief Executive Officer Joanne Zach said this decision reflects the desire to diversify the company's treasury Bond holdings with a "decentralized store of value" that has been rapidly adopted since 2024. Zach further stated:
The integration of Bit into commercial and financial strategies has been rapidly unfolding across financial markets, positioning it as both an inflation hedge and a safeguard against economic and monetary risks in the global economy.
Fathom's stock price remained largely unchanged following this news. Currently, the stock is trading around $1.33 per share with a total market capitalization of around $30 million.
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