Fathom Holdings, a real estate technology firm listed on NASDAQ, has announced its adoption of Bitcoin 
$78,774 standards. The company will allocate half of its extra cash reserves to Bitcoin following board approval.
Bitcoin Investment and Customer Payments
Fathom Holdings aims to start accepting Bitcoin payments from its customers in the near future. The company revealed plans to begin purchasing Bitcoin or Bitcoin exchange-traded funds (ETFs) within the next two weeks.
Company’s Financial Strategy
Joanne Zach, Fathom’s chief financial officer, highlighted the accelerating integration of Bitcoin into commercial and financial strategies. She described Bitcoin as a hedge against inflation and a safeguard against economic and currency risks in the global economy.
“The integration of Bitcoin into commercial and financial strategies has gained momentum, positioning it as a protection against inflation and a safeguard against economic risks in the global economy.”
Other Companies’ Crypto Investments
Fathom is not the first company to add Bitcoin to its balance sheet. Many small NASDAQ companies have started investing in Bitcoin, following the lead of software firm MicroStrategy.
Since acquiring Bitcoin in 2020, MicroStrategy now holds over $47 billion in Bitcoin, making it the largest institutional treasury holder of the asset. Other health and automotive companies are also adding Bitcoin to their portfolios as an inflation hedge strategy.
After the announcement, Fathom’s stock rose by 5% from Wednesday’s close, reaching $1.39 by Friday. The rising Bitcoin prices and the ease of investing in the asset through ETFs encourage other companies to follow suit.
Ultimately, the shift of companies towards Bitcoin may signal a significant trend in the cryptocurrency market. These developments have the potential to increase Bitcoin’s corporate acceptance.
