Quantum Biopharma bought an additional value of $ 1 million dollars in bitcoin and other cryptocurrencies, the Canadian biotechnology company said.
Purchases are the assets of the total cryptocurrency of quantum at around $ 4.5 million, according to a press release on May 19. The biotechnology company plans to play part of its crypto to generate income.
Quantum expects the detention of a Bitcoin (BTC) treasure and other cryptographic assets “will provide a return on investment to shareholders and […] Provide coverage against the Canadian dollar, “he said.
Quantum shares, QNTM, increased by around 25% after the announcement, according to Google Finance data.
In relation: Basel’s medical stocks fell 15% on Bitcoin’s purchase plans of $ 1 billion
Popular cash strategy
Quantum is one of the many health care companies accumulating Bitcoin as business cryptography treasures are becoming more and more popular.
In March, the biopharmaceutical company listed in Nasdaq in the life of Life Sciences made purchasing plans of $ 5 million Bitcoin.
In a post of March 20 X, the founder of Atai, Christian Angermeryer, said: “Bitcoin should be part of any business treasure – in particular, in fact, in the biotechnological sector.”
Angermeryer added in a blog article that Bitcoin can help biotechnology against inflation and stay solvent during long periods before drug approval.
On May 16, the Singapore health care company, Basel Medical Group, announced its intention to buy a billion dollars in bitcoin.
He said that a Bitcoin treasure will support his plans to develop in Asia through acquisitions by giving Basel “one of the strongest assessments among health care providers focused on Asia”.
Unlike Quantum, however, Basel’s actions have dropped considerably on the day of the announcement.
Collectively, corporate treasury bills hold more than $ 83 billion in Bitcoin on May 19, according to BitcoinTareries.net data.
Listed companies are now the biggest institutional Bitcoin holders after fundraising on the stock market (ETF), according to data.
Bitcoin can “potentially be a precious coverage against increasing budgetary deficits, the discharge of currencies and geopolitical risks” for companies, said Fidelity Digital Active, responsible for assets, in a 2024 report.
Review: The signs of danger for Bitcoin because the retail trade abandons it to institutions: Sky weekends
