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A Nasdaq Listed Company Joins the Giants Embracing Bitcoin Reserves! - Coin Bulletin
Dominari Holdings has become the latest publicly traded company to adopt a corporate Bitcoin strategy by allocating a portion of its cash reserves to Bitcoin (BTC) investments.
Dominari Holdings, which is traded on Nasdaq under the DOMH code, operates as a holding company engaged in financial services and asset management. The company plans to make Bitcoin investments through BlackRock’s iShares Bitcoin Trust ETF (IBIT). Management aims to maintain this strategy with the growth of cash reserves. Currently holding 2 million dollars in Bitcoin treasury, the company also plans to increase alternative coin investments by the end of the year.
This announcement was published together with Dominari's fourth quarter revenue report for 2024. The company expects approximately 19 million dollars in revenue for 2024. More than 8 million dollars of this revenue will be recorded in the fourth quarter. CEO Anthony Hayes stated that the company will continue to invest in innovative technologies, focusing on its growth in the investment banking sector.
Recently, institutional interest in Bitcoin has increased. Japan-based Metaplanet aims to increase its Bitcoin investments, targeting to hold 10,000 BTC by the end of 2025. Additionally, video game retailer GameStop is also turning to Bitcoin investments by issuing convertible bonds worth 1.3 billion dollars. These developments are creating differing opinions among investors regarding the future of Bitcoin.
Dominari's (DOMH) shares have lost 8.2% in value following the announcement, trading at 4.80 dollars. The company's market capitalization is 70.4 million dollars.