The board of directors of the U.S. publicly traded company Hoth Therapeutics approved the purchase of $1 million in Bitcoin as a reserve asset

ChainCatcher news, according to PR Newswire, the U.S. publicly traded company Hoth Therapeutics announced that its board of directors has approved the purchase of up to $1 million in Bitcoin.

Hoth CEO Robb Knie stated, "With the continued growth of Bitcoin and its gradual emergence as a major asset class attracting investor attention and recognition, we believe Bitcoin will become a powerful financial reserve asset. With the recent approval of Bitcoin ETFs and the increasing activity of institutional investors, Bitcoin will serve as a strong complement to financial strategies. We believe that Bitcoin's anti-inflation characteristics may make it a reliable asset with value storage capabilities."