Quantum BioPharma Buys Another $1 Million of Bitcoin and Other Crypto
As part of Quantum's ongoing strategic efforts to further diversify its treasury, the company bought an additional USD $1 million worth of Bitcoin and other cryptocurrencies, bringing its total crypto purchased to date to USD $2 million.
Quantum BioPharma (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) (Upstream: QNTM), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, announced the purchase of an additional USD $1 million of Bitcoin (BTC) and other cryptocurrencies.
The crypto purchases are part of Quantum BioPharma’s ongoing strategic efforts to further diversify its treasury and came following approval from its Board of Directors.
Quantum’s latest crypto purchase reflects the company’s continued belief in the potential of Bitcoin and cryptocurrencies to provide its shareholders with a return on investment, as well as to help hedge against the Canadian dollar.
To date, Quantum has now bought a total of USD $2 million worth of Bitcoin and other cryptocurrencies.
As mentioned in Quantum BioPharma’s previous Bitcoin purchase announcement, the company is set up to receive financing and execute transactions in crypto, should it choose to.
In addition, the company disclosed that all of its crypto holdings are being held with a fully compliant custodian. Quantum also emphasized that its crypto transactions were completed in a manner that was fully compliant with all financial and audit regulations, thus ensuring a secure and legal process.
Moving forward, Quantum BioPharma says it will continue monitoring the cryptocurrency market and may increase or decrease its Bitcoin and other crypto holdings as it deems appropriate.
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