Key Points
- Fathom Holdings plans to allocate up to 50% of its excess cash, approximately $500,000, to Bitcoin purchases.
- The company aims to enable Bitcoin payments for its customers and agents as part of its treasury management strategy.
Fathom Holdings, a tech-based real estate services platform, recently revealed its plans to incorporate Bitcoin into its treasury management program.
Bitcoin as a Treasury Asset
The company’s Board of Directors has greenlit the allocation of nearly half of Fathom’s excess cash, totaling around $500,000, for the purchase of Bitcoin over the forthcoming fortnight. This move is part of the firm’s strategy to streamline real estate transactions via its digital platform, intelliAgent. This platform amalgamates residential brokerage, mortgage, and title functions to minimize transaction costs and inefficiencies.
Fathom’s decision to diversify its treasury holdings, which were previously solely in U.S. dollars, aligns with its broader strategy. The company is looking to enable Bitcoin payments for its agents and customers. Joanne Zach, the CFO of Fathom, highlighted Bitcoin’s role as a decentralized store of value and a hedge against inflation as the main reasons behind the decision. She also emphasized the increasing integration of Bitcoin into global financial markets.
Increasing Adoption of Bitcoin
Fathom’s adoption of Bitcoin as part of its treasury strategy mirrors a growing trend among businesses. More companies are turning to cryptocurrency to diversify their assets and cater to the rising demand for digital payment options.
The company also reported progress on the integration of My Home Group as part of its 2025 growth plan. This move is expected to generate an additional $110 million in revenue.
Other companies like KULR Technology Group and Genius Group Limited have also increased their Bitcoin holdings. KULR purchased 510 BTC worth $50 million, and Genius Group bought 420 BTC valued at $40 million. Both companies have dedicated over 90% of their reserves to cryptocurrency.
MicroStrategy, a company known for its Bitcoin investment strategy, continues to aggressively acquire Bitcoin. The firm recently acquired an additional 11,000 Bitcoin for $1.1 billion.