Fathom Holdings, a real estate technology company traded on NASDAQ, has declared its commitment to Bitcoin by designating a portion of its cash reserves towards this digital asset. The decision follows the approval of its board and marks a significant step in the company’s financial strategy.
How Will Bitcoin Payments Impact Customers?
The firm plans to start receiving Bitcoin payments from clients soon. It has also announced intentions to begin acquiring Bitcoin or Bitcoin exchange-traded funds (ETFs) within the upcoming two weeks.
What Financial Strategy Drives This Decision?
Joanne Zach, the Chief Financial Officer of Fathom, emphasized the swift incorporation of Bitcoin into the company’s financial planning. She argued that Bitcoin serves as a hedge against inflation and offers protection against the uncertainties of the global economy.
– Fathom Holdings allocates 50% of excess cash to Bitcoin.
– The company will soon allow Bitcoin payments for customer transactions.
– Plans to purchase Bitcoin or ETFs are set for the next two weeks.
– Other companies are also investing in Bitcoin as a safeguard against inflation.
Fathom is joining a trend where many small NASDAQ firms are also investing in Bitcoin, inspired by MicroStrategy’s substantial purchases. Following the news of its investment, Fathom’s stock experienced a 5% increase, indicating growing investor interest as Bitcoin continues to gain traction among corporations.
