Canadian Biotechnology Company said Quantum Biopharma bought a $ 1 million Bitcoin and other cryptocurrencies.
According to the press release on May 19, BUYS will bring about $ 4.5 million in a total of total cryptocurrency holdings. Biotech Company plans to risk some of the encryption to make money.
Quantum estimates that BTC (BTC) Treasury (BTC) and other password assets will provide shareholders with investment revenue (…) and hedge for Canadian dollars.
According to Google Finance’s data, QNTM, a stock stock of Quantum, has risen about 25% after the announcement.
relevant: BASEL Medical falls 15% from the $ 1B Bitcoin purchase plan.
Popular financial strategy
Quantum is one of some medical companies that accumulate Bitcoin because of the increasingly popular corporate cryptocurrency.
In March, ATAI LIFE Sciences, a listed biopharmaceutical company, plans to purchase $ 5 million worth of Bitcoin.
“Bitcoin should be part of the company’s Treasury, especially the biotechnology sector,” at the X POST on March 20.
Bitcoin added to the blog post that Bitcoin can help with biotechnology hedging for inflation for a long time before drug approval.
On May 16, a medical company, headquartered in Singapore, announced plans to purchase $ 1 billion worth of Bitcoin.
The Bitcoin Treasury Department told Basel that it will support the plan to expand in Asia by acquiring “one of the most powerful balance of Asian medical service providers.”
But unlike Quantum, BASEL’s stocks have been greatly reduced on the day of the announcement.
According to data from Bitcointreasuries.net, the Ministry of Trade and Treasury has more than $ 83 billion in Bitcoin as of May 19.
The publicly traded company is now the largest agency Bitcoin holder since ETF (Exchange-Traded Funds).
“Bitcoin said in a 2024 report,” Bitcoin said, “Bitcoin can be a valuable hedging for potentially deficit, currency destruction and designated risks.”
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