Mining company doesn’t mine bitcoin, so it’ll buy $500 million of it instead
Another day, another company adding bitcoin to its reserve. While bitcoin bulls continue waiting for Trump to announce a national bitcoin strategic reserve, more companies are joining MicroStrategy in stockpiling bitcoin.
Today, mining company Critical Metals announced it will have access to “up to $500 million” to buy bitcoin as part of a convertible-note financing, becoming the “the first Nasdaq-listed critical minerals company to adopt bitcoin as a primary treasury reserve asset.”
Tony Sage, executive chairman and CEO, said adopting bitcoin will provide inflation protection. “This strategy aligns with broader Western government initiatives around bitcoin adoption, including President Trump’s recent advocacy for a national bitcoin stockpile,” he said.
MicroStrategy still leads the corporate bitcoin-stashing pack by far with 461,000 bitcoin in its coffers. MicroStrategy CEO Michael Saylor applauded Critical Metals’ decision:
🇺🇸 Publicly traded Critical Metals Corp is set to invest up to $500 MILLION in #Bitcoin. 🤯
— Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) January 21, 2025
The Bitcoin adoption train is unstoppable—next stop: Mars. 🚀 pic.twitter.com/JVyxivgRwL
Meanwhile, energy-management platforms company KULR Technology also increased its bitcoin holdings, saying it bought $8 million worth of bitcoin on January 21. KULR now holds 510 bitcoin and is committed to holding “up to 90% of its surplus cash reserves to be held in bitcoin.”
Finally, companies like MARA Holdings — second to MicroStrategy in bitcoin holdings — are joining efforts to create a national bitcoin strategic reserve. Momentum is also gaining at the state level, with 11 states introducing such legislation.
On January 21, SEC Acting Chairman Mark T. Uyeda announced the launch of the much anticipated “crypto task force,” which crypto bullish Commissioner Hester Peirce will lead.
🇺🇸 Publicly traded Critical Metals Corp is set to invest up to $500 MILLION in #Bitcoin. 🤯
— Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) January 21, 2025
The Bitcoin adoption train is unstoppable—next stop: Mars. 🚀 pic.twitter.com/JVyxivgRwL
Meanwhile, energy-management platforms company KULR Technology also increased its bitcoin holdings, saying it bought $8 million worth of bitcoin on January 21. KULR now holds 510 bitcoin and is committed to holding “up to 90% of its surplus cash reserves to be held in bitcoin.”
Finally, companies like MARA Holdings — second to MicroStrategy in bitcoin holdings — are joining efforts to create a national bitcoin strategic reserve. Momentum is also gaining at the state level, with 11 states introducing such legislation.
On January 21, SEC Acting Chairman Mark T. Uyeda announced the launch of the much anticipated “crypto task force,” which crypto bullish Commissioner Hester Peirce will lead.
