Hoth Therapeutics buys Bitcoin worth up to $ 1 million

HOTH Therapeutics, a listed biopharmaceutical company, has introduced Bitcoin (BTC) as a treasury assets.

The biopharmaceutical company in the clinical stage announced on November 20 that its board of directors had approved the admission of BTC in its balance sheet. In the first step of this significant step, Hoth Therapeutics will buy up to $ 1 million $ 1 million in a bitcoin. href = "https://www.prnewswire.com/news-releases/hoth- therapeutics-board-of-directors-approves-bit-as-treas-serve-aasset-302311213.html"> pressement division .

Big step when Hoth Bitcoin buys

HOTH points out that the attractiveness of Bitcoin as fixed assets, global acceptance and increasing institutional purchase are the key to his decision. The approval of Bitcoin ETFs and options, increased ETF inflows and assets as well as plans for strategic BTC reserves have also given several platforms.

The Hoth Management team also regarded BTC as a protection against inflation and as a value preservation means as crucial features.

"Because Bitcoin continues to grow and investors' attention and acceptance and the most important investment class gains, we believe that Bitcoin will serve as a strong treasury reserve assets," said Robb Knie, CEO from Hoth.

"In view of the recent approval of Bitcoin ETFs and the increasing activity of institutional investors, this is a strong addition to our treasury strategy." We believe that its inflation-resistant properties can make it a reliable asset as functional value residues, "added knee.

Hoths step takes place at a time when Microstrategy, the company, which has acquired a huge amount of BTC since its first purchase in 2020, has increased its stocks by buying $ 4.6 billion. Other companies, including "Asia’s Microstrategy" Metaplanet, want to follow this example.

also foundations, pension funds and family offices take a close look at Bitcoin.

In the meantime, the price of Bitcoin has increased due to the positive mood of Donald Trump's re-election to a new all-time high of over $ 94,000. Analysts say that the benchmark crypto-asset will exceed $ 100,000 and will become parabolic in the next few months.