According to Deep Tide TechFlow, on November 21, the U.S. listed company Steakholder Foods Ltd. (NASDAQ: STKH) announced that its board of directors has approved the purchase of up to $1 million worth of Bitcoin or an index tracking cryptocurrencies.
Steakholder Foods CEO Arik Kaufman stated that with the growing demand for cryptocurrencies and their increasing acceptance as an asset class, the company believes that Bitcoin or a diversified basket of cryptocurrencies including Bitcoin will become a strong financial reserve asset.
Given the recent approval of cryptocurrency ETFs and increased support from institutional investors, cryptocurrencies can be a good complement to the company's financial strategy. Steakholder Foods is an Israeli alternative protein and 3D printing technology manufacturer that is listed on NASDAQ.
