Hoth Therapeutics allocates $1 million to Bitcoin, reflecting rising business adoption amid increasing attention on BTC’s inflation-resistant value.
Hoth Therapeutics, a clinical-stage biopharmaceutical company, has allocated up to $1 million to Bitcoin, aiming to leverage the cryptocurrency’s potential as a store of value and hedge against inflation.
The company’s board of directors approved the move, reflecting a growing trend among businesses in the United States amid renewed interest in Bitcoin (BTC) following Donald Trump’s reelection as president.
This trend aligns with recent comments from US Senator Cynthia Lummis, who has urged the US Treasury Department to consider converting some of its gold reserves into Bitcoin.
