Nuvve also plans to accept BTC payments. It now joins a growing list of corporate Bitcoin adopters. Meanwhile, Japan’s Metaplanet is raising $745 million to expand its Bitcoin holdings, and plans to accumulate 10,000 BTC by late 2025 and 21,000 BTC by 2026. In the US, Arizona lawmakers advanced the Strategic Bitcoin Reserve Act, which will allow government entities to allocate up to 10% of their capital towards Bitcoin. Nuvve to Invest in Bitcoin Nuvve, the Nasdaq-listed clean energy electric vehicle charging technology firm, announced plans to allocate a portion of its treasury into Bitcoin (BTC). It will set aside up to 30% of its excess cash reserves to buy Bitcoin. The company stated in a press release on Jan. 28 that its move to add Bitcoin to its balance sheet is part of a strategy to diversify its holdings and offer Bitcoin as a payment option for customers and suppliers. Gregory Poilasne, founder and CEO of Nuvve, pointed out that accepting Bitcoin will expand payment choices while also reducing transaction friction that is associated with traditional digital payment methods. By integrating Bitcoin into its treasury strategy, Nuvve joins a growing list of publicly traded companies that turned to the cryptocurrency to boost financial stability and share value, especially as Bitcoin has surged 150% over the past year. After the announcement, shares of Nuvve (NVVE) saw a brief increase, and closed at $2.81 with a 1.81% gain on Jan. 28. It is still down from a daily high of over $4. After hours, the stock continued its modest upward movement by climbing another 1.42% to $2.85. However, the company’s stock is still in a long-term decline, down 10% in value so far this month. Nuvve share price (Source: Google Finance ) Financially, Nuvve reported $1.92 million in revenue for the third quarter of 2024, which was a 29.3% decline from the previous quarter. Its latest financial filings show it holds $325,425 in cash, which, if 30% were allocated to Bitcoin at its current price of $101,836, would amount to just under one BTC. Bitcoin Treasuries data reveals that 62 publicly traded companies collectively hold 618,615 BTC, which is valued at over $62.6 billion. MicroStrategy is still the largest corporate Bitcoin holder with 471,107 BTC, while Tesla, the leading electric vehicle manufacturer, owns 9,720 BTC. Metaplanet Plans Another Massive Bitcoin Buy Metaplanet, a publicly traded company in Japan, also recently announced an ambitious plan to raise more than 116 billion yen (approximately $745 million) to expand its Bitcoin holdings. On Jan. 29, the company issued 21 million shares of 0% discount moving strike warrants to generate the necessary funds to buy additional Bitcoin. Metaplanet described this as the largest capital raise in Asian equity markets dedicated to Bitcoin acquisition. The company’s decision to increase its Bitcoin reserves is part of its strategy to hedge against the declining value of the yen and position itself as a leader in corporate Bitcoin adoption. This fundraising initiative is also the first phase of Metaplanet’s larger Bitcoin strategy, with a goal of buying 10,000 BTC by the fourth quarter of 2025. This investment is expected to exceed $1 billion at current market prices. By the end of 2026, the company plans to increase its holdings even more to 21,000 BTC, worth approximately $2.1 billion. (Source: Metaplanet ) Simon Gerovich, Metaplanet’s representative director and president, stated that the company is now recognized as “Tokyo’s preeminent Bitcoin company” and is taking advantage of its momentum to solidify its position in the market. Metaplanet first purchased Bitcoin on April 8 of 2024, and integrated it as a core treasury asset. Since adopting a Bitcoin standard, the company experienced exponential growth, and reported a 309% BTC yield in the fourth quarter of 2024, after a 41% yield in the third quarter. The firm also reported large unrealized gains from its Bitcoin holdings. Beyond its Bitcoin investments, Metaplanet has seen rapid expansion in other areas as well, including a surge in the number of shareholders, which is now over 50,000. Its share trading volume increased 430 times year-over-year. Arizona Lawmakers Advance Bill to Create a Bitcoin Reserve Arizona lawmakers took a big step toward integrating Bitcoin into the state’s financial strategy by advancing the Strategic Bitcoin Reserve Act (SB1025). The bill is co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, and passed the Arizona State Senate Finance Committee with a five-to-two vote on Jan. 27. It will now move to the Senate Rules Committee for further debate and amendments. If approved by the Senate, it will proceed to the House of Representatives. The bill proposes the establishment of a strategic Bitcoin reserve that will be managed by the US Treasury, which would store government Bitcoin holdings and allow other public funds to deposit their digital assets in a secure, segregated account. It will also permit government entities and public funds to allocate up to 10% of their capital into Bitcoin and other digital assets. This shift could attract increased public interest, particularly among younger generations. In fact, recent reports show that up to 20% of Gen Z and Alpha are open to receiving pensions in cryptocurrency, while 78% have a lot more trust in alternative retirement savings over traditional pension funds. (Source: Bitget ) The move could set a precedent for other states also considering similar legislation. Blockchain expert Anndy Lian stated that Arizona’s initiative might encourage states like Texas and Pennsylvania, which have already explored Bitcoin adoption, to accelerate their own efforts. However, he also warned that incorporating Bitcoin into state reserves requires a lot of safeguards because of the cryptocurrency’s volatility. Overall, he pointed out the potential risks for taxpayers similar to those faced by crypto investors. The bill’s advancement happened at a time of growing discussions about a national Bitcoin reserve. Wyoming Republican Senator Cynthia Lummis has been a very vocal advocate for the idea, and if the proposal gains federal approval, it could have huge effects on Bitcoin’s price. Adam Back , co-founder and CEO of Blockstream, suggested that a move like this could push Bitcoin’s value past the seven-figure mark in the current market cycle. He believes this will be due to the fact that investors have yet to fully price in the impact of a nationwide Bitcoin reserve. There are currently at least 13 Bitcoin reserve-related bills in progress across various states, including Massachusetts, Pennsylvania, Kansas, New Hampshire, Wyoming, Ohio, Utah, and North Dakota. Support for these initiatives has grown a lot fueled by former President Donald Trump’s pro-crypto policies and recent executive orders on digital assets. If the bill succeeds, it could lead to an influx of new institutional Bitcoin adopters that could give BTC’s price a very nice boost.
