Bitcoin Gains Corporate Appeal—Hoth Therapeutics Dives into Crypto with $1M Investment

- Quantum BioPharma stock drops about 10% - Investor anxiety rises after the announcement of Bitcoin and other cryptocurrency purchases [Unblock Media] Quantum BioPharma's stock has dropped about 10% after purchasing $1 million worth of Bitcoin and other cryptocurrencies. This decline is likely due to investor concerns about the volatility and uncertainty of cryptocurrencies. The decision to include Bitcoin in the company's asset portfolio is controversial, with some investors potentially viewing it as a high-risk investment. According to recent Consumer Price Index (CPI) data from the United States, inflation rose by 2.7% year-over-year in November 2024, matching the 2.6% increase in October. This rise in inflation is prompting companies to explore various methods to protect their assets. Bitcoin, known for its fixed supply and resistance to inflation, is increasingly being recognized as a means of asset protection. For example, in November 2024, wellness and plant-based e-commerce company Jiva Technologies announced plans to invest up to $1 million in BTC, recognizing it as an inflation-resistant store of value. Additionally, several companies are increasingly adopting cryptocurrencies. Firstly, biopharma companies like Quantum BioPharma and Hoth Therapeutics have each purchased $1 million worth of Bitcoin. This indicates that cryptocurrencies are beginning to be included in the asset portfolios of companies within the biopharma industry. Technology companies are also incorporating Bitcoin into their asset portfolios. For instance, Jiva Technologies, a wellness and plant-based e-commerce company, has approved an investment plan of up to $1 million, and the video-sharing platform Rumble has announced plans to convert part of its assets into Bitcoin, approving an allocation of up to $20 million in Bitcoin. These activities demonstrate that companies are increasingly including cryptocurrencies in their asset portfolios, suggesting that cryptocurrencies are becoming an important part of corporate financial strategies. Economic factors such as rising inflation are accelerating this adoption, which may lead to more companies considering cryptocurrencies as a means of asset protection, thereby reinforcing Bitcoin's market presence.