Quantum Biopharma bolsters Bitcoin treasury

The biopharmaceutical company bought $1 million of Bitcoin and other cryptocurrencies, taking its total crypto holdings to $4.5 million.

Quantum Biopharma has purchased an additional $1 million worth of Bitcoin and other cryptocurrencies, the Canadian biotechnology company said.

The buys take Quantum’s total cryptocurrency holdings to approximately $4.5 million, according to a May 19 press release. The biotech company plans to stake a portion of its crypto to generate revenue.

Quantum expects that holding a treasury of Bitcoin (BTC) and other crypto assets will “provide a return on investment for shareholders and […] provide some hedge against the Canadian dollar,” it said.

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