Fathom Holdings announces strategic Bitcoin investment and integration plans, marking a significant shift towards digital currency adoption in real estate transactions and treasury management.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
Fathom Holdings, Inc. has decided to add Bitcoin to its list of assets. The company shared that its Board of Directors has approved the plan. This decision supports Fathom Realty’s goal of allowing Bitcoin payments for agents and customers in the future.
It was revealed that Fathom Holdings will use 50% of its excess cash to purchase Bitcoin BTC $84 773 24h volatility: 0.6% Market cap: $1.68 T Vol. 24h: $8.08 B , based on its estimated expenses for the next six months. The company plans to buy up to $500,000 worth of Bitcoin or Bitcoin ETFs in the next two weeks.
Fathom added Bitcoin to expand its financial assets beyond U.S. dollars. By offering Bitcoin payments in real estate services, the company aims to lead in tech innovation. CFO Joanne Zach noted that Bitcoin is becoming more accepted as a decentralized store of value, with growing interest in other digital currencies.
Zach added that the use of Bitcoin in business and financial planning has rapidly increased in financial markets, establishing it as a defense against inflation and a protection against global economic and currency risks. She said:
“The growing acceptance of Bitcoin as a decentralized store of value and the increasing demand for alternative digital currencies are evident, supported by significant global capital allocations toward Bitcoin in 2024. The integration of Bitcoin into commercial and financial strategies has accelerated across financial markets, positioning it as both a hedge against inflation and a safeguard against economic and currency risks in the global economy. Our Bitcoin strategy diversifies our treasury holdings and, we believe, positions Fathom at the forefront of digital currency transactions in the real estate industry.”
Fathom CEO Marco Fregenal said that adding a Bitcoin strategy and enabling Bitcoin payments aligns with their goal of improving real estate transactions through their software. Their platform, intelliAgent, combines real estate services to make processes easier, more accurate, and more cost-effective. Fathom believes Bitcoin can further enhance these benefits and is well-positioned to leverage digital currency in real estate. The CFO stated:
“We believe Bitcoin has the potential to extend these efficiencies and cost benefits, and Fathom is well-positioned to capitalize on the advantages of digital currency in the real estate market. Furthermore, we are seeing growing demand for digital currency solutions from buyers, sellers, agents, and partners within our ecosystem.”
More information about Fathom Holdings’ Bitcoin treasury plan will be provided in the company’s current report on Form 8-K, which is expected to be filed with the U.S. Securities and Exchange Commission around January 23, 2025.
The real estate platform acquired My Home Group, a top Arizona-based brokerage ranked 27th in the country by transaction volume, in November. This move has greatly expanded Fathom’s presence in Arizona, enhanced its network of agents, and reinforced the company’s focus on delivering tech-driven real estate solutions nationwide.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
