U.S. publicly traded company Hoth Therapeutics has approved Bitcoin as a treasury reserve asset

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.