Ex-Ripple exec’s company to adopt Bitcoin treasury strategy

While Michael Saylor’s Bitcoin playbook is the talk of Wall Street, another U.S.-listed company, Know Labs, is set to join the growing list of publicly traded Bitcoin treasury companies.

Former Ripple chief risk officer Greg Kidd is set to acquire Know Labs Inc., a medical device company that offers non-invasive health monitoring solutions, and adopt a Bitcoin (BTC) treasury strategy. 

Know Labs announced the news on June 6, stating that Goldeneye 1995 LLC, an affiliate of Greg Kidd, has agreed to acquire a majority stake. Once the deal closes, the former Ripple executive will become the new chief executive officer and chairman of Know Labs.

The acquisition will be completed using a mix of Bitcoin and cash, with Know Labs deploying Goldeneye’s 1,000 BTC payment as part of its treasury strategy. Investors in the company will gain “significant economic exposure to this highly attractive digital asset,” Know Labs wrote in a press release.

Know Labs is Greg Kidd’s latest crypto-related venture. The co-founder and CEO of venture capital firm Hard Yaka has backed several crypto companies, including Ripple, Coinbase, Robinhood, Uphold, and Solana. He previously served in the Federal Reserve’s payments division.

His move to take a Bitcoin strategy approach may be inspired by Michael Saylor’s Strategy, formerly MicroStrategy, which has amassed a massive haul of BTC since first buying the asset in August 2020.. 

“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.

Know Labs’ Bitcoin holdings will account for 82% of its $128 million market cap once the BTC is added to the balance sheet. This will give the company a net asset value multiple of 1.22x, based on a BTC price of $105,000 at closing.

Know Labs expects the transaction to close in Q3 2025, subject to shareholder approval and the finalization of customary closing conditions.