Banzai Board of Directors Approves Purchase of Bitcoin as Treasury Reserve Asset

Core Viewpoint - Banzai International, Inc. has approved the purchase of Bitcoin as a treasury reserve asset to diversify its financial holdings and hedge against inflation [1][2]. Financial Strategy - The Board of Directors has authorized the use of company funds to purchase Bitcoin, allowing for up to 10% of the corporate treasury account to be allocated for this purpose [2]. - The company reported a strong balance sheet with cash of $4.3 million at the end of Q3 2024, which is an all-time high [3]. Management Perspective - The CEO of Banzai believes that Bitcoin will diversify treasury holdings and position the company to benefit from its long-term value, citing growing institutional adoption as a key factor [3]. - The diversification strategy is part of broader improvements to the company's balance sheet and cost structure, aimed at achieving sustainable profitability without impacting growth plans [3]. Company Overview - Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes, with a mission to help customers grow [4]. - The company serves a diverse clientele, including notable names such as Cisco, New York Life, and Hewlett Packard Enterprise [4].