
KULR Technology Group, Inc (NYSE American:KULR) Follows Blackrock's And Microstrategy's Playbook Investing In Bitcoin
How big is the Bitcoin play? BlackRock's iShares Bitcoin Trust (IBIT ) now holds 700,000 bitcoin (BTC) according Glassnode data. In 18 months, IBIT has grown to $76 billion in assets under management, surpassing the iShares Core S&P 500 ETF (IVV), which tracks the U.S. equity benchmark, and the iShares Russell 2000 ETF (IWM), which follows small-cap U.S. stocks.
KULR Technology Group, Inc (NYSE American: KULR ) has been investing in the future of Bitcoin as institutional capital since its announcement on December 4th of its Bitcoin Treasury strategy to allocate to 90% of its surplus cash to BTC. It has announced multiple expansions of its holdings since executing its plan.
On May 20th, KULR announced it increased its bitcoin acquisitions for its Bitcoin Treasury by an additional $9 million to reach a total of $78 million in bitcoin acquisitions.
KULR is going in deeper and just announced that it has secured a $20 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ: COIN ).
From the news: The agreement establishes a multi-draw loan facility initially totaling up to $20 million, which will be available to KULR upon execution of the credit facility. The Company intends to use the net proceeds to fund its strategic Bitcoin accumulation goals.
"This marks KULR's first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate," said Michael Mo, CEO of KULR. "It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value."
In 2024, KULR selected Coinbase's Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings. At present, eight of the ten largest publicly traded companies with bitcoin on their balance sheets utilize Coinbase Prime for similar services.
Amounts borrowed under the credit facility will be secured by a portion of the Company's total bitcoin holdings.
Even President Trump's company is going deeper in crypto. Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT), operator of the social media platform Truth Social, the streaming platform Truth+, and the Fitch brand Truth, just announced the filing with the U.S. Securities and Exchange Commission of the initial registration statement on Form S-1 for the Truth Social Crypto Blue Chip ETF, B.T. The ETF will hold Bitcoin, Ether, Solana ("SOL"), Croons ("CRO") and Ripple ("XRP") directly, with 70% of its assets invested in Bitcoin, 15% in Ether, 8% in SOL, 5% in CRO and 2% in XRP, and offer its shares to investors, aiming to reflect the price performance of Bitcoin, Ether, SOL, CRO and XRP.
From the news: Crypto will act as the ETF's exclusive digital asset custodian and prime execution agent, as well as staking and liquidity provider.
Continued: The launch of the Truth Social Crypto Blue Chip ETF is pending effectiveness of the Registration Statement as well as approval of a Form 19b-4 filing with the SEC. Upon launch, the
Shares will be listed on NYSE Arca. Yorkville America Digital is acting as the sponsor of the ETF.
In late May, MicroStrategy Incorporated d/b/a Strategy (Nasdaq: MSTR /STRK/STRF) announced it raised $427.0 million; purchased 4,020 BTC; and now holds 580,250 BTC. On July 7th MicroStrategy/Strategy announced that it has entered into a sales agreement pursuant to which Strategy may issue and sell shares of its 10.00% Series A Perpetual Stride Preferred Stock, $0.001 par value per share having an aggregate offering price of up to $4.2 billion (the "ATM Program").
From the news: Strategy expects to make sales of STRD Stock pursuant to the ATM Program in a disciplined manner over an extended period, taking into account the trading price and trading volumes of the STRD Stock at the time of sale.
Continued: Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin and for working capital, and may also use the net proceeds for the payment of dividends to holders of its 10.00% Series A Perpetual Strife Preferred Stock, $0.001 par value per share and 8.00% Series A Perpetual Strike Preferred Stock, $0.001 par value per share.
The momentum is building as CNBC just reported , " Corporate treasuries have surpassed ETFs in bitcoin buying for a third consecutive quarter as more companies try to benefit from the MicroStrategy playbook in a more crypto-friendly regulatory environment."
"Public companies acquired about 131,000 coins in the second quarter, growing their bitcoin balance 18%, according to data provider Bitcoin Treasuries. ETFs showed an 8% increase or about 111,000 BTC in the same period."
KULR Technology Group, Inc (NYSE American: KULR ) isn't just betting on the future of Bitcoin for its shareholders, its core technologies span multiple industries with sustainable and safe solutions.
"KULR is at the forefront of pioneering the next generation of engineering solutions across various sectors, including space, aerospace, defense, transportation, and recycling. Our expertise spans from small-satellite (CubeSat) batteries to JSC 20793 human-rated batteries, offering both off-the-shelf products and custom solutions tailored to meet specific needs."
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