Quantum Biopharma adds to crypto holdings
Quantum Biopharma has acquired an additional $1 million in Bitcoin and other cryptocurrencies, increasing its total holdings to approximately $4.5 million. The company plans to stake part of its crypto assets to generate revenue and aims to provide a return on investment for shareholders while hedging against the Canadian dollar. Following the announcement, Quantum's stock rose by about 25%. Other healthcare companies are also investing in Bitcoin; Atai Life Sciences plans to purchase $5 million worth, while Basel Medical Group announced intentions to buy $1 billion in Bitcoin. Corporate treasuries now hold over $83 billion in Bitcoin, making publicly traded companies the largest institutional holders after ETFs. Bitcoin is viewed as a hedge against fiscal deficits, currency debasement, and geopolitical risks.
