From Medical Devices to Bitcoin Treasuries: Know Labs Goes All-In Under New Leadership

Greg Kidd's Bold Move into Crypto

Forget Michael Saylor's Bitcoin playbook - there's a new kid on the block! Know Labs, a U.S.-listed medical device company, is shaking things up by diving headfirst into the world of Bitcoin treasuries. And who's leading the charge? None other than former Ripple chief risk officer, Greg Kidd!

Kidd is set to acquire Know Labs Inc., known for its cutting-edge non-invasive health monitoring solutions, and he's bringing a Bitcoin strategy that'll make Wall Street sit up and take notice. This isn't just a change in leadership; it's a full-blown crypto revolution!

On June 6, Know Labs dropped the bombshell that Goldeneye 1995 LLC, an affiliate of Kidd, has agreed to snatch up a majority stake. Once the ink dries on this deal, Kidd will step into the spotlight as the new CEO and chairman of Know Labs. Get ready for a wild ride!

Here's the kicker: the acquisition will be funded with a mix of cold, hard cash and sizzling Bitcoin. Know Labs is ready to deploy Goldeneye's whopping 1,000 BTC payment straight into its treasury strategy. Investors, get ready to feel the heat of this "highly attractive digital asset," as Know Labs puts it in their press release.

This isn't Kidd's first rodeo in the crypto world. As the co-founder and CEO of venture capital firm Hard Yaka, he's been backing crypto companies left and right - from Ripple to Coinbase, Robinhood to Uphold, and even Solana. And let's not forget his stint in the Federal Reserve's payments division. This guy knows his stuff!

So, what inspired Kidd to go all-in on Bitcoin? You guessed it - Michael Saylor's legendary strategy at MicroStrategy. Since buying their first BTC in August 2020, they've been stacking sats like nobody's business. Kidd is ready to follow in those footsteps and take Know Labs to new heights.

"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 exclaimed. You can feel the excitement in his words!

Once the Bitcoin hits the balance sheet, Know Labs' BTC holdings will make up a staggering 82% of its $128 million market cap. With a BTC price of $105,000 at closing, that gives the company a net asset value multiple of 1.22x. Talk about a game-changer!

Mark your calendars - Know Labs expects this transaction to close in Q3 2025, pending shareholder approval and the finalization of customary closing conditions. The crypto world better buckle up because Know Labs and Greg Kidd are coming in hot!