The Canadian Biotechnology Company said that Quantum Biopharma has bought an additional million dollars from Bitcoin and other cryptocurrencies.
The purchases are about $ 4.5 million in Quantum. According to To a press release May 19. The Biotechnology Company plans to share part of the encryption to generate revenue.
Quantum expects that the cabinet will carry Bitcoin (BTC) and other encryption assets “will provide a return on investment for shareholders and (…) to provide some hedge against the Canadian dollar.”
Quantum’s Stock, QNTM, increased by 25 % after the announcement, according to Data From Google Finance.
Related to: Basel Medical shares by 15 % on Bitcoin purchasing plans of $ 1 billion
Popular Treasury Strategy
Quantum is one of the many health care companies that accumulate Bitcoin as the cryptocurrency bonds of companies become increasingly popular.
In March, ATAI Life Sciences, which is ranked NASDAQ on plans to buy Bitcoin worth $ 5 million.
On March 20 x mail“Bitcoin should be part of any corporate treasury – especially in the biotechnology sector,” said ATAI founder, Christian Angremayer.
Angermayer added in a blog mail Bitcoin can help hedge from biotechnology against inflation and survival in solvents during long periods before drug approvals.
On May 16, BASEL Medical Group, which is based in Singapore, announced plans to purchase Bitcoin at a value of one billion dollars.
She said that the Bitcoin Treasury will support its plans to expand in Asia through acquisitions by giving Basel “one of the strongest budgets for health care that focuses on Asia.”
Unlike the quantity, Basel shares decreased dramatically on the day of advertising.
Group, Treasury bonds have more than $ 83 billion in Bitcoin as of May 19, According to To data from bitcointreasuries.net.
Companies circulating for the public are now the largest institutional bitcoin holders after the exchange boxes on the stock exchange (ETFS), as data appears.
Bitcoin can be “possible to be a valuable hedge against the growing financial deficit, exposing the currency, and geopolitical risks”, companies director Felletti digital assets He said In the 2024 report.
magazine: Signs of danger to Bitcoin, where the retail sale is given to the institutions: Sky Wee
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