Hoth Therapeutics, a publicly traded company in the United States, announced that it will adopt Bitcoin as a financial reserve asset. The board of Hoth Therapeutics approved the purchase of $1 million worth of Bitcoin. CEO Robb Knie stated that the continuous growth of Bitcoin has made it a major asset class, believing that Bitcoin will serve as a strong financial reserve asset and complement the company’s financial strategy. Recently, several companies have expressed plans to follow MicroStrategy's Bitcoin strategy by adopting Bitcoin as a strategic reserve asset. Other companies such as Genius Group and Acurx Pharmaceuticals have also taken similar actions.

BlockBeats News, November 20, according to The AP News, U.S. publicly traded company Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced that the company's board of directors has approved the purchase of $1 million worth of Bitcoin. Hoth's CEO Robb Knie stated: "With the continued growth of Bitcoin, gradually becoming a major asset class, we believe Bitcoin will be a powerful financial reserve asset and a strong complement to our financial strategy." BlockBeats Note: Recently, several companies have expressed their intention to emulate MicroStrategy's Bitcoin strategy by incorporating Bitcoin as a strategic reserve asset. On November 19, U.S. publicly traded company Genius Group bought 110 bitcoins for $10 million, establishing a Bitcoin reserve;On November 20, video streaming platform Rumble's founder and CEO Chris Pavlovski initiated a poll on social media asking whether Bitcoin should be included in the company's balance sheet. After the news was announced, the company's stock price surged 9% in after-hours trading;On November 20, the board of directors of U.S. publicly traded biopharmaceutical company Acurx Pharmaceuticals approved the purchase of up to $1 million worth of Bitcoin as a treasury reserve asset.

Hoth Therapeutics Incorporates Bitcoin into Financial Reserves