Hoth Therapeutics, a publicly traded company on the U.S. stock market, has approved Bitcoin as a treasury reserve asset.

According to BlockBeats news on November 20, Hoth Therapeutics, Inc. (NASDAQ: HOTH), a publicly traded company in the U.S., announced that its board of directors approved the purchase of $1 million worth of Bitcoin. Hoth CEO Robb Knie stated, "With the continued growth of Bitcoin and its gradual emergence as a major asset class, we believe Bitcoin will become a strong financial reserve asset and a powerful addition to our financial strategy."

BlockBeats notes: Recently, several companies have expressed intentions to emulate MicroStrategy's Bitcoin strategy, treating Bitcoin as a strategic reserve asset.

On November 19, Genius Group, a publicly traded company in the U.S., purchased 110 Bitcoins for $10 million to establish a Bitcoin reserve;

On November 20, Chris Pavlovski, founder and CEO of the video streaming platform Rumble, initiated a poll on social media asking whether Bitcoin should be included in the company's balance sheet. Following the announcement, the company’s stock price surged by 9% in after-hours trading;

On November 20, the board of directors of Acurx Pharmaceuticals, a publicly traded biopharmaceutical company, approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset.