Quantum Biopharma invests $1M in BTC and other cryptos

Quantum BioPharma (QNTM) has announced the purchase of $1 million in Bitcoin (CRYPTO:BTC) and other cryptocurrencies on December 20, 2024, as part of its strategy to diversify its treasury.

The company’s shares on the Nasdaq dropped nearly 10% following the announcement.

Quantum BioPharma is listed on the Nasdaq, the Canadian Securities Exchange, and the Frankfurt Stock Exchange, offering biopharmaceutical solutions for treating various disorders such as neurodegenerative diseases and metabolic syndromes.

“The company is now set up to receive financing in cryptocurrencies as well as executing other types of transactions in cryptocurrencies,” Quantum said in a statement, without revealing the exact cryptocurrencies in its portfolio.

The move reflects a growing trend among non-crypto businesses incorporating cryptocurrencies into their treasury strategies.

Many firms are seeking to diversify their assets and hedge against inflation.

The latest US Consumer Price Index (CPI) data indicates inflation rose by 2.7% year-over-year in November 2024, up from 2.6% in October, further motivating companies to seek alternatives for asset protection.

On a monthly basis, the CPI rose by 0.3%, marking the largest increase in seven months.

Quantum BioPharma joins other companies like Jiva Technologies and Rumble, which also announced plans to invest in Bitcoin.

On November 20, Hoth Therapeutics, a biopharmaceutical company, added $1 million in Bitcoin to its treasury.

MicroStrategy has been a prominent example of corporate adoption, becoming the largest corporate holder of Bitcoin with 439,000 BTC as of December 2024.

Meanwhile, a Washington-based think tank, the National Center for Public Policy Research, has urged major companies like Microsoft and Amazon to consider adopting Bitcoin as part of their corporate treasury strategies.

Microsoft shareholders rejected the proposal in December 2024, while Amazon’s shareholders will likely review the suggestion in April 2025.

At the time of reporting, the Bitcoin (BTC) price was $94,302.61.