A company led by a former Ripple executive adopts a Bitcoin treasury strategy, joining a growing list of firms using BTC as a reserve asset
While Michael Saylor’s Bitcoin playbook is the subject of much discussion on Wall Street, Know Labs, a U.S.-listed company, is poised to join the expanding roster of publicly traded Bitcoin treasury companies.
Greg Kidd, Ripple’s former chief risk officer, is preparing to acquire Know Labs Inc., a medical device company that provides non-invasive health monitoring solutions. Additionally, he intends to implement a Bitcoin treasury strategy.
On June 6, Know Labs disclosed that Goldeneye 1995 LLC, an affiliate of Greg Kidd, consented to acquire a majority stake. The former Ripple executive will assume the roles of chief executive officer and chairman of Know Labs upon the completion of the transaction.
The acquisition will be finalized through a combination of Bitcoin and currency, with Goldeneye’s 1,000 BTC payment being implemented by Know Labs as part of its treasury strategy. In a press release, Know Labs stated that investors in the company will acquire “substantial economic exposure to this beautiful digital asset.”
Greg Kidd’s most recent crypto-related endeavor is Know Labs. Ripple, Coinbase, Robinhood, Uphold, and Solana are among the crypto companies the co-founder and CEO of venture capital firm Hard Yaka supported. He has previously worked in the payments division of the Federal Reserve.
Michael Saylor’s Strategy, which was previously known as MicroStrategy, may have inspired his decision to adopt a Bitcoin strategy. Since purchasing the asset in August 2020, Strategy has accumulated a substantial amount of BTC.
“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,” Kidd said.
Once the BTC is incorporated into the balance sheet, Know Labs’ Bitcoin holdings will constitute 82% of its $128 million market capitalization. This will result in a net asset multiple of 1.22x for the company, with a BTC price of $105,000 at closing.
Subject to shareholder approval and the completion of customary closing conditions, Know Labs anticipates that the transaction will be finalized in Q3 2025.
