Nasdaq-listed Nuvve, an EV charging tech firm, announced plans to allocate up to 30% of its excess cash toward Bitcoin, aiming to diversify its treasury and support BTC payments. CEO Gregory Poilasne sees Bitcoin acceptance as a way to reduce transaction friction.
Despite this, Nuvve’s Q3 2024 revenue fell 29.3% to $1.92 million, and its cash reserves stood at $325,425—meaning it could buy less than 1 BTC at the current price of $101,522.
Nuvve joins 62 public companies holding a combined 618,615 BTC ($62.6 billion). MicroStrategy leads with 471,107 BTC, while Tesla holds 9,720 BTC. Nuvve’s stock rose 1.81% to $2.81 on Jan. 28 but remains down 99.93% from its 2021 all-time high of $8,000.
Source: Cointelegraph
