Silo Pharma (Nasdaq: SILO), a US-listed pharmaceutical firm, has received board approval to acquire up to $1 million in Bitcoin as part of its reserve assets, according to a recent GlobeNewswire release. This strategic allocation aims to enhance the company’s asset diversification by integrating digital currency into its financial portfolio. CEO Eric Weisblum emphasized that Bitcoin adoption is intended to function as a hedge against inflation, aligning with broader corporate treasury management trends in the pharmaceutical sector. By leveraging Bitcoin’s potential for value preservation, Silo Pharma seeks to strengthen its balance sheet and deliver sustained shareholder value over the long term. This move reflects a growing institutional acceptance of cryptocurrency as a legitimate component of corporate reserves, underscoring the evolving landscape of asset management within publicly traded companies.
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