Yet another public company with little-to-no previous involvement in the cryptocurrency industry has signaled it will top up its coffers with Bitcoin.
Health technology firm Know Labs plans to buy 1,000 Bitcoin, worth roughly $105 million as of writing time, a company representative said Friday in a statement also announcing that prominent fintech investor Greg Kidd would be acquiring a controlling interest in the firm.
“I’m thrilled to deploy a Bitcoin treasury strategy with the support of a forward-looking organization like Know Labs at a time when market and regulatory conditions are particularly favorable,” Kidd said Friday in the statement. “We believe this approach will generate sustainable growth and long-term shareholder value.”
Know Labs did not immediately reply to Decrypt’s request for comment.
Bitcoin was recently trading at $105,031, up 8% over the last month according to CoinGecko data. Know Labs shares are trading at $0.87, marking a 71% increase in its stock price since Thursday’s close.
Kidd will become Know Labs’ next CEO upon the deal’s completion, according to the statement. The investor is known for backing major tech and crypto startups at an early stage, including Twitter, Coinbase, Solana, Block, and Robinhood.
The strategy shift comes as a growing field of public companies stock their reserves with cryptocurrencies to share in the success of software firm Strategy’s Bitcoin-holding playbook. Strategy is the largest publicly traded Bitcoin treasury firm with nearly $61 billion worth of the cryptocurrency.
There are at least five dozen publicly traded companies—a good portion of which have historically had very little involvement with the crypto industry—that have established Bitcoin treasuries, data analytics firm Standard Chartered shared in a June 3 report. And, the list is poised to grow longer: Norwegian Block Exchange, SolarBank, and now Know Labs have all signaled over the past few days their intent to accumulate the world’s oldest cryptocurrency.
An increasing number of public companies have also taken steps to amass significant amounts of altcoins, including Solana, XRP, and Ethereum.
Public companies’ embrace of virtual tokens as reserve assets comes as the U.S. undergoes a pro-crypto regulatory overhaul, helmed by self-styled crypto champion U.S. President Donald Trump.
Following Trump’s inauguration in January, the crypto industry’s main regulators, the Commodities and Futures Trading Commission and the Securities Exchange Commission, have undergone sweeping staffing changes, losing several crypto-skeptic commissioners and welcoming more tech-friendly leaders and staffers.
Trump also signed a spate of pro-crypto executive orders earlier this year, signaling his administration’s commitment to the crypto industry, which served as a major source of political donations during the 2025 U.S. elections.
The directives called for the U.S. Treasury to amass Bitcoin and other cryptocurrencies, in addition to introducing protections for crypto mining and self-custodying.
Edited by James Rubin
