Hoth Therapeutics Inc. (HOTH), an early-stage pharmaceutical biopharmaceutical company, today announced that its Board of Directors approved the purchase of up to $1 million in Bitcoin.
Commenting on the development, Robb Knie, CEO of Hoth said, "As Bitcoin continues to grow, gaining investor attention and acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset. With the recent approval of Bitcoin ETFs and increasing activity from institutional investors, it is a strong addition to our treasury strategy. We believe its inflation-resistant characteristics may make it a reliable asset as a functional store of value."
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