The Canadian Biotechnology Company said Quantum Biofarma has bought a bitcoin and other cryptocurrency worth an additional $ 1 million.
Buy the total cryptocurrency holdings of quantum takes up to about $ 4.5 million, According In a press release on 19 May. The Biotech company plans to stake a portion of its crypto to generate revenue.
Quantum hopes to catch the treasure of bitcoin (BTC) And other crypto assets “will provide a withdrawal on investment for shareholders and (…) provide some hedge against Canadian dollars,” this Said,
Quantum stock shares, QNTM, increased by about 25% after the announcement, according to this data From Google Finance.
Connected: Basel Medical Share shares below 15% on the plan to buy $ 1b bitcoin
Popular treasure strategy
Quantum is one of the many healthcare companies accumulating bitcoin as corporate crypto treasury becomes rapidly popular.
In March, nasdaq-listed bioframasutical company Atai Life Sciences gave up Bitcoin plans to buy a price of $ 5 million,
In March 20 x Post“Bitcoin should be part of any corporate treasury – in particular, in the Biotech region,” said Christian Angermeer, the founder of Atai, said.
Angmier added to a blog Post He can help the biotech hedge against bitcoin inflation and remain solvent during the long period before the drug approval.
On 16 May, Singapore -based healthcare company Basal Medical Group announced Plan to buy bitcoin worth $ 1 billion,
It said that a bitcoin would support Treasury Basel “one of the strongest balance sheets among the Asia-Centenary Health Services providers” by giving its plans to expand in Asia through acquisition.
Unlike Quantum, however, the announcement of Basel’s shares declined significantly.
Collectively, corporate treasury is more than $ 83 billion in bitcoin as of May 19, According For data from bitcointreasuries.net.
Publicly trading companies are now the largest institutional bitcoin holders after the exchange-traded funds (ETFs), showing data.
Bitcoin companies may be a valuable defense against increasing fiscal deficit, currency debut, and geopolitical risk “, asset manager Fidelity Digital Asset Said In a 2024 report.
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