Quantum BioPharma Purchases US$1 Million in Bitcoin to Diversify Treasury-March 2024-www.financetom.com

Quantum BioPharma Purchases US$1 Million in Bitcoin to Diversify Treasury

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Quantum BioPharma Purchases US$1 Million in Bitcoin to Diversify Treasury

Dec 20, 2024 6:00 AM

08:34 AM EST, 12/20/2024 (MT Newswires) -- Quantum BioPharma ( QNTM ) said Friday that it purchased US$1 million in bitcoin and other cryptocurrencies as part of a play to diversify its treasury.

Quantum said it is now set up to receive financing in cryptocurrencies as well as executing other types of transactions in cryptocurrencies.

"We are exploring innovative ways to grow our capital not being used in operations," said CEO Zeeshan Saeed said. "With multiple global asset managers now offering BTC based exchange-traded funds, and renewed optimism following pro-crypto policy expectations under President-elect Donald Trump's new administration, we believe Bitcoin and other cryptocurrencies presents an opportunity to align with emerging financial trends."

The company's share price rose 4% on Thursday to $5.25 on the TSX.

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