Quantum Biopharma, a Canadian biotechnology firm, has announced that it purchased Bitcoins and other crypto currencies worth an additional $1,000,000.
Quantum has now acquired a total amount of cryptocurrencies worth $4.5million. according A press release from May 19, 2009. The biotech firm plans to stake some of its cryptocurrency to generate revenues.
Quantum anticipates that having a Treasury of Bitcoin (BTCOther crypto-assets will be added. “provide a return on investment for shareholders and […] provide some hedge against the Canadian dollar,” It is a good idea to get a hold of someone else. said.
Quantum shares, QNTM rose about 25% in value following the announcement. data Google Finance
Related: Basel Medical shares down 15% on $1B Bitcoin buying plans
Treasury strategy popular
Quantum, a healthcare company in the United States, is one of many companies that has accumulated Bitcoin since corporate crypto treasures became popular.
Atai Life Sciences – a biopharmaceutical manufacturer listed on NASDAQ – was ranked as the top company in March. plans to buy $5 million worth of Bitcoin.
A March 20, X postChristian Angermayer said that Atai founder. “Bitcoin should be a part of ANY corporate treasury – especially, in fact, in the biotech sector.”
Angermayer was added to the blog post Bitcoin helps biotech firms to hedge against inflation during long waiting periods for drug approvals.
Basel Medical Group of Singapore announced on the 16th May that it had launched a new healthcare service. plans to buy $1 billion worth of Bitcoin.
Basel has said that it will use a Bitcoin-based treasury to support plans for expansion in Asia via acquisitions. “one of the strongest balance sheets among Asia-focused healthcare providers.”
Quantum’s stock, on the other hand, rose significantly the day after the announcement.
Bitcoin is now worth more than 83 billion dollars in corporate Treasury accounts, as of May 19. according to data from BitcoinTreasuries.NET.
The data indicates that publically traded companies now hold the most Bitcoins, followed by exchange-traded fund (ETF) holders.
Bitcoin can “potentially be a valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks” Fidelity is a digital asset manager that can be used by companies. said In a report for 2024.
Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee
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Source: cointelegraph.com
