Quantum BioPharma (QNTM), a biopharmaceutical company, has become the latest publicly traded firm to incorporate cryptocurrencies into its treasury strategy.
On Dec. 20, the company announced a $1 million investment in Bitcoin and other cryptocurrencies. Following the disclosure, QNTM’s shares on the Nasdaq dropped nearly 10%.
Quantum BioPharma, also listed on the Canadian Securities Exchange and Frankfurt Stock Exchange, specializes in biotech solutions for treating neurodegenerative diseases, metabolic syndromes, and alcohol misuse disorders.
“The company is now set up to receive financing in cryptocurrencies as well as executing other types of transactions in cryptocurrencies,” Quantum stated, though it did not reveal the specific tokens in its portfolio.
More non-crypto businesses are embracing digital assets to diversify their holdings and hedge against inflation.
In November, the U.S. Consumer Price Index (CPI) rose 2.7% year-over-year, with a 0.3% monthly increase, marking the sharpest rise in seven months.
Jiva Technologies, a wellness e-commerce firm, approved a plan to invest up to $1 million in Bitcoin last month, citing its inflation-resistant qualities. Similarly, video-sharing platform Rumble allocated $20 million of its cash reserves to Bitcoin in late November.
Hoth Therapeutics, another biopharmaceutical company, added $1 million in Bitcoin to its treasury on Nov. 20. MicroStrategy, which adopted this strategy in 2020, remains the largest corporate Bitcoin holder with 439,000 BTC as of December 2024.
Think Tank Advocates Bitcoin Adoption
The National Center for Public Policy Research, a Washington, D.C.-based think tank, has pushed major corporations like Amazon and Microsoft to adopt Bitcoin treasury strategies.
Microsoft shareholders voted against the proposal during a Dec. 10 meeting, calling it “unnecessary.” Amazon’s shareholders are set to review the proposal in April 2025.
The think tank plans additional Bitcoin-related proposals for 2025, aligning its efforts with a “pro-freedom” agenda.
