{"id":100127,"date":"2024-11-20T13:07:55","date_gmt":"2024-11-20T17:07:55","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=100127"},"modified":"2024-11-20T13:09:14","modified_gmt":"2024-11-20T17:09:14","slug":"hoth-therapeutics-approves-purchase-of-bitcoin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hoth-therapeutics-approves-purchase-of-bitcoin\/","title":{"rendered":"Hoth Therapeutics Approves Purchase of $1M Bitcoin"},"content":{"rendered":"\n

Nasdaq-listed Hoth Therapeutics has announced plans to purchase Bitcoin as a treasury reserve asset<\/a>.<\/p>\n\n\n\n

\"Hoth
Hoth Therapeutics Approves Purchase of $1M Bitcoin<\/figcaption><\/figure>\n\n\n\n

On November 20, Hoth said that its board of directors authorized the purchase of $1 million worth of Bitcoin. <\/p>\n\n\n\n

Using Bitcoin as a reserve asset will make the biopharmaceutical company the most recent organization to do so. <\/p>\n\n\n\n

Despite being very minor compared to other recent acquisitions, Hoth's Bitcoin acquisition represents another noteworthy advancement for the cryptocurrency. <\/p>\n\n\n\n

The top cryptocurrency, which is valued as a hedge against inflation and a store of wealth, is still gaining traction on Wall Street and around the world. <\/p>\n\n\n\n

Donald Trump's victory in the 2024 US election on November 5th sent Bitcoin to new all-time highs<\/a> of $94,000. Bitcoin's market valuation has overtaken that of Saudi Aramco and silver in recent weeks. <\/p>\n\n\n\n

Additionally, it now surpasses the combined market capitalization\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> of Mastercard and Visa. Robb Knie, the CEO of Hoth, listed a number of justifications for the clinical-stage biopharmaceutical company's choice to include Bitcoin on its balance sheet. <\/p>\n\n\n\n

These include the asset's potential as a “strong treasury reserve asset” and its increasing acceptance among institutional investors. The CEO of Hoth added:\u00a0<\/p>\n\n\n\n

\n

With recent approval of Bitcoin ETFs and increasing activity from institutional investors, it is a strong addition to our treasury strategy. We believe its inflation-resistant characteristics may make it a reliable asset as a functional store of value.”<\/p>\n<\/blockquote>\n\n\n\n

Since Trump's reelection, there has been a lot of interest in Bitcoin, and one of the developments supporting a favorable market position is the expected changes at the US Securities and Exchange Commission<\/a>. <\/p>\n\n\n\n

Meanwhile, US Senator Cynthia Lummis is leading the charge in creating a strategic Bitcoin reserve for the United States. <\/p>\n\n\n\n

In order to purchase Bitcoin, the senator has suggested that the US government<\/a> sell its gold. In other news, MicroStrategy is bolstering its Bitcoin strategy by adding $4.6 billion worth of the commodity to its funds.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Nasdaq-listed Hoth Therapeutics has announced plans to purchase Bitcoin as a treasury reserve asset. On November 20, Hoth said that its board of directors authorized the purchase of $1 million worth of Bitcoin. Using Bitcoin as a reserve asset will make the biopharmaceutical company the most recent organization to do so. Despite being very minor […]<\/p>\n","protected":false},"author":43,"featured_media":100128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,22949,1559],"class_list":["post-100127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-hoth-therapeutics","tag-us"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/croc_1732120807157.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/100127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=100127"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/100127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/100128"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=100127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=100127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=100127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}