On November 20th, COINOTAG reported that Acurx Pharmaceuticals, a biopharmaceutical firm listed on public markets, has sanctioned the acquisition of up to $1 million in Bitcoin for its treasury reserves. CEO David P. Luci highlighted the increasing relevance of Bitcoin, emphasizing its promising potential as a treasury reserve asset over the forthcoming 12 to 18 months to mitigate cash flow challenges. He noted that Bitcoin’s inherent scarcity and resistance to inflation position it as a sound value storage alternative, while affirming that this strategy will not detract from their ongoing drug development efforts.
In parallel, the trend of publicly traded companies adopting Bitcoin as a strategic reserve asset is gaining momentum. Just a day prior, Genius Group acquired 110 Bitcoins for $10 million, affirming its commitment to establishing a Bitcoin reserve. Additionally, Chris Pavlovski, CEO of the popular streaming service Rumble, recently conducted a social media poll regarding the inclusion of Bitcoin in the company’s financial strategy, which resulted in a 9% surge in the company’s stock price during after-hours trading.