Nuvve Board of Directors Gives Approval for the Inclusion of Bitcoin Into its Treasury

Nuvve Holding Corp, a global leader in vehicle-to-grid technology, has announced that it would include Bitcoin in its treasury strategy.

On the 28th of January, the company’s Board of Directors approved the inclusion of Bitcoin as a primary asset in its treasury management program. The move reiterates Nuvve’s commitment to diversifying its financial reserves. This comes amidst plans to introduce BTC as a payment option for both customers and suppliers in the future.

Balancing Risk and Innovation With Bitcoin

Under the newly approved plan, Nuvve will allocate up to 30% of its excess cash—calculated based on six-month operating expenses—toward purchasing Bitcoin.

By dedicating a portion of its reserves to BTC, the company aims to protect itself against traditional market volatility while exploring digital currency’s potential.

“BTC acceptance will promote more payment options for customers and suppliers with potentially less transactional friction inherent to digital currencies.” Gregory Poilasne, CEO and Founder of Nuvve said.

Modest BTC Purchases Ahead For Nuvve

Despite the ambitious announcement, Nuvve’s current financial position however suggests limited immediate impact. The firm reported $325,425 in cash reserves during Q3 2024, a 29.3% quarterly revenue drop to $1.92 million. If allocated today, 30% of its excess cash would only be able to purchase just under 1 Bitcoin at current prices.

Investors reacted cautiously to the news. After peaking at $4.39 intraday on January 28, NVVE stock quickly retreated to $2.81 by closing, up 1.81% for the day. After-hours trading however saw a slight 1.42% uptick, signaling cautious optimism.

Bitcoin itself has remained relatively stable amid general market downturns. Bitcoin inched down by just 0.27% in the past 24 hours according to data from CoinMarketCap.

MicroStrategy and Tesla Playbook

Nuvve joins many other tech companies that have also shown interest in allocating a portion of its assets into a Bitcoin reserve. Companies like Tesla and MicroStrategy—holding over 618,615 BTC collectively— have seen huge success in leveraging Bitcoin to boost shareholder value.

Despite Nuvve’s scale paling in comparison, the decision to include Bitcoin in its treasury underscores Bitcoin’s growing appeal as a treasury asset. By integrating BTC into payments and treasury reserves, the company positions itself at the intersection of clean energy and fintech.