cryptojournalist
Quantum BioPharma (QNTM) has taken a bold step into crypto. On December 20, the company revealed it had invested $1 million in Bitcoin and other cryptocurrencies. This decision caused its Nasdaq stock to tumble by nearly 10%.
The biotech firm, which develops treatments for conditions like neurodegenerative diseases and alcohol misuse, is listed on major stock exchanges like Nasdaq and the Canadian Securities Exchange. It also plans to accept and use cryptocurrencies, though it hasn’t shared details about its holdings.
Why Companies Are Turning to Bitcoin
As inflation in the U.S. hit 2.7% in November 2024, more businesses are turning to Bitcoin to protect their assets. Here’s what some companies are doing:
Jiva Technologies: Invested $1 million in Bitcoin, calling it a strong hedge against inflation.
Rumble: Committed $20 million from its reserves to Bitcoin.
Hoth Therapeutics: Added $1 million in Bitcoin to its treasury.
MicroStrategy: Still leading with 439,000 BTC in its holdings.
Bitcoin Advocates Push for Corporate Adoption
A think tank, the National Center for Public Policy Research, is pushing companies like Microsoft and Amazon to adopt Bitcoin. Microsoft rejected the idea earlier this month, but Amazon will discuss it in April 2025.
