**Know Labs, Inc. Embraces Bitcoin Treasury Strategy with 1,000 BTC**
**Meta Description:** Know Labs, Inc. announces a Bitcoin treasury strategy, acquiring 1,000 BTC to enhance its financial position and shareholder value.
**URL Slug:** know-labs-bitcoin-treasury-strategy
**Know Labs, Inc. Embraces Bitcoin Treasury Strategy with 1,000 BTC**
Know Labs, Inc. (NYSE American: KNW) has officially announced its adoption of a Bitcoin treasury strategy, starting with the acquisition of 1,000 Bitcoin. This strategic move comes as the company enters into an agreement with Goldeneye 1995 LLC and Ripple’s Chief Risk Officer, Greg Kidd, who will assume the roles of Chief Executive Officer and Chairman of the Board following the transaction. Founder Ron Erickson will transition to the position of Vice Chairman of the Board.
Under the terms of the agreement, the buyer will acquire shares of Know Labs’ common stock, with the total value derived from the 1,000 Bitcoin and a cash component aimed at reducing existing debt, redeeming outstanding preferred equity, and bolstering working capital. Each share will be priced at $0.335, with Bitcoin playing a pivotal role in the company’s treasury strategy, providing investors with direct exposure to the cryptocurrency.
“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,” stated Mr. Kidd. He emphasized that this approach is expected to foster sustainable growth and enhance long-term shareholder value.
As Bitcoin becomes the primary asset on Know Labs’ balance sheet, management plans to utilize the multiple of net asset value (mNAV) metric to evaluate the premium investors assign to the company’s market value in relation to its Bitcoin holdings. With a market capitalization of $128 million and Bitcoin priced at $105,000, the estimated entry mNAV multiple stands at 1.22x, with Bitcoin representing approximately 82% of the total market capitalization at the time of closing.
“Partnering with Greg Kidd marks a pivotal next chapter for Know Labs,” remarked Mr. Erickson. “We look forward to continuing our research in non-invasive medical technology. Greg’s visionary leadership positions Know Labs for a bold future.”
The trend of adopting Bitcoin as a treasury reserve asset has surged globally over the past year, with 225 companies and entities now including Bitcoin in their balance sheets. Notably, the Norwegian Block Exchange (NBX) recently became the first publicly listed company in Norway to incorporate Bitcoin into its treasury strategy, affirming its commitment by stating, “NBX will not sell this Bitcoin or go short in any form.”
In conclusion, Know Labs, Inc.’s strategic move to adopt a Bitcoin treasury strategy marks a significant development in the company’s financial strategy and positions it for future growth in the evolving landscape of cryptocurrency.
**FAQ**
**What is Know Labs, Inc.’s new strategy regarding Bitcoin?**
Know Labs, Inc. has adopted a Bitcoin treasury strategy, acquiring 1,000 Bitcoin to enhance its financial position and provide investors with exposure to cryptocurrency.
