Acurx Pharmaceuticals' board approves the purchase of $1 million in Bitcoin as a reserve asset

2024-11-20 20:08:10

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ChainCatcher news, according to PR Newswire, the board of directors of Nasdaq-listed biopharmaceutical company Acurx Pharmaceuticals has approved the purchase of $1 million in Bitcoin as a reserve asset.

Acurx President and CEO David P. Luci stated, "With the growing demand for Bitcoin and its increasing acceptance as a major asset class, we believe that Bitcoin will become a powerful reserve asset to offset cash shortages in the next 12 to 18 months. With the recent approval of Bitcoin ETFs and the increasing support from government agencies and institutional investors, Bitcoin will be a significant complement to funding strategies. The limited supply of Bitcoin and its anti-inflation characteristics make it a practical means of value storage, and this new funding strategy is a financial strategy that will not impact the overall drug development plan."

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