Key Takeaways
- Hoth Therapeutics and Acurx Pharmaceuticals each allocate $1M to Bitcoin.
- Both companies cite Bitcoin's inflation resistance as a key factor.
- Bitcoin continues gaining traction in corporate treasury strategies.
Clinical-stage biopharmaceutical firm Hoth Therapeutics has committed $1 million to Bitcoin as part of its treasury strategy.
Approved by its board of directors, the investment aligns with Bitcoin’s growing reputation as a hedge against inflation and store of value.
CEO Robb Knie highlighted Bitcoin’s inflation-resistant nature and pointed to the approval of Bitcoin ETFs and increased market activity as key drivers behind the decision.
Acurx Pharmaceuticals
Acurx Pharmaceuticals is also allocating $1 million to Bitcoin to manage surplus cash over the next 12 to 18 months.
CEO David P. Luci emphasized Bitcoin’s limited supply and resilience against inflation as central to the company’s decision.
Luci said:
As demand for Bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset.
He assured investors this decision would not impact Acurx’s drug development efforts.
Bitcoin’s growing role in corporate strategies
The moves by Hoth and Acurx reflect the rising adoption of Bitcoin among businesses.
Inspired by pioneers like MicroStrategy and Tesla, companies are turning to Bitcoin as a treasury reserve to combat inflation and diversify their portfolios.
