Acurx (ACXP) Pharmaceuticals announced that the company’s Board of Directors approved the purchase of up to $1M in Bitcoin to hold as a treasury reserve asset. “As demand for Bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months” said David Luci, President & CEO of Acurx. “With the recent approval of Bitcoin ETFs and the growing support from government agencies and institutional investors, it is a great addition to our treasury strategy. Its limited supply and inflation-resistant characteristics provide a functional store of value. This new treasury strategy is a finance strategy and has no impact on our overarching drug development plans.”
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
