Hoth Therapeutics Invests $1 Million in Bitcoin: A Growing Trend Among U.S. Companies

In a significant move aligning with the growing acceptance of cryptocurrency, Hoth Therapeutics, Inc. (NASDAQ: HOTH) has disclosed its plans to acquire $1 million in Bitcoin. This decision, articulated by CEO Robb Knie, underscores the company’s belief in Bitcoin’s potential as a financial reserve asset, enhancing its overall financial strategy. The trend of publicly traded companies investing in Bitcoin is gaining momentum, following the footsteps of MicroStrategy. On November 19th, Genius Group made waves by purchasing 110 Bitcoins for $10 million to bolster its own Bitcoin reserves. Reacting to the bullish sentiment, Rumble CEO Chris Pavlovski sought public opinion on incorporating Bitcoin into the firm’s balance sheet, which propelled the company’s stock price up by 9% in after-hours trading. Similarly, Acurx Pharmaceuticals has approved plans to invest $1 million in Bitcoin, further solidifying the cryptocurrency’s role as a legitimate asset in corporate treasuries.