Quantum BioPharma Buys $1 Million of Bitcoin and Other Crypto
The purchases will allow the company to conduct future financings and transactions in cryptocurrency.
Quantum BioPharma (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) announced that the company has purchased USD $1 million worth of Bitcoin (BTC) and other cryptocurrencies. As part of its strategic efforts, the crypto purchases will allow Quantum BioPharma to conduct future financings and other transactions in cryptocurrency.
The move reflects Quantum BioPharma’s belief in the potential of Bitcoin and other cryptocurrencies to provide a return on investment for shareholders. In addition, the company is now set up to receive financing and execute transactions in crypto.
Commenting on the company’s crypto purchases, Quantum BioPharma CEO Zeeshan Saeed stated:
“We are exploring innovative ways to grow our capital not being used in operations. Bitcoin’s recent advancements in both legal and market legitimacy make it a compelling addition. With multiple global asset managers now offering BTC based exchange-traded funds, and renewed optimism following pro-crypto policy expectations under President-elect Donald Trump’s new administration, we believe Bitcoin (BTC), and other cryptocurrencies presents an opportunity to align with emerging financial trends.”
Quantum BioPharma’s crypto holdings are being held with a fully compliant custodian. The company also emphasized that all crypto-related transactions are and will be done in a manner that is fully compliant with all relevant financial and audit regulations, ensuring a secure and legal process.
Quantum BioPharma will continue to monitor crypto market conditions and may increase or decrease its holdings of Bitcoin and other cryptocurrencies as it deems appropriate.
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