- Quantum Biopharma increased its cryptocurrency holdings by $1 million, bringing its total to about $4.5 million.
- The Canadian biotech company plans to stake part of its crypto assets to generate extra revenue.
- Quantum expects its Bitcoin treasury will offer shareholder returns and provide a hedge against local currency risks.
- Quantum’s stock price rose around 25% after the announcement, according to Google Finance.
- Several healthcare firms are adding Bitcoin to their corporate treasuries as part of a growing trend among public companies.
Quantum Biopharma, a Canadian biotechnology company, has purchased an additional $1 million in Bitcoin and other cryptocurrencies. This move increases the company’s total crypto holdings to approximately $4.5 million, according to a press release published on May 19.
Quantum stated that it will stake a portion of its cryptocurrency assets to generate extra revenue. The company says this strategy aims to deliver returns for shareholders and act as a hedge against fluctuations in the Canadian dollar.
“We expect holding Bitcoin and other crypto assets will provide a return on investment for shareholders and provide some hedge against the Canadian dollar,” Quantum said. After the announcement, shares of Quantum Biopharma (QNTM) rose by around 25%, as reported by Google Finance.
This move reflects a growing trend of healthcare companies making cryptocurrency a part of their financial strategy. In March, Atai Life Sciences, another NASDAQ-listed biotech firm, announced plans to purchase $5 million in Bitcoin. Atai’s founder, Christian Angermayer, stated in a post that “Bitcoin should be a part of ANY corporate treasury – especially, in fact, in the biotech sector.”
On May 16, Singapore-based Basel Medical Group announced plans to buy $1 billion in Bitcoin to strengthen its balance sheet for expansion in Asia. Unlike Quantum, Basel’s shares declined after its announcement.
Data from BitcoinTreasuries.NET shows that as of May 19, corporate treasuries hold more than $83 billion in Bitcoin. Publicly traded companies are now among the biggest institutional holders, after Bitcoin exchange-traded funds (ETFs). According to Fidelity Digital Assets, Bitcoin may help companies hedge against fiscal deficits, currency declines, and geopolitical risks.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- SEC Considers Easing Retail Rules for Private Funds, Boosts Tokenization
- Tether Outpaces Circle, Earning $13B to USDC’s $156M in 2024
- Dogecoin Holds Key Support as Bulls, Bears Vye in Falling Wedge
- D2X, ABN AMRO Partner for Institutional Crypto Derivatives Custody
- Justin Sun Returns to US, Preps Trump Dinner Amid SEC Pause
