Key Takeaways
- Acurx Pharmaceuticals invests up to $1M in BTC to diversify its treasury reserve strategy amid rising demand.
- The company follows MicroStrategy's successful approach, highlighting Bitcoin’s inflation-resistant characteristics as a store of value.
- Bitcoin adoption by corporations has been growing steadily, driven by record-high prices and favorable regulatory expectations under Trump’s presidency.
Acurx Pharmaceuticals adopts bitcoin for treasury diversification
The board of Acurx Pharmaceuticals has approved the purchase of up to $1M in bitcoin as a treasury reserve asset.
This decision mirrors strategies previously implemented by companies like MicroStrategy.
Acurx CEO David P. Luci emphasized that the move will not impact the company's primary drug development plans.
'Its limited supply and inflation-resistant characteristics provide a functional store of value'.
Corporate bitcoin adoption gains momentum
MicroStrategy pioneered the corporate adoption of bitcoin as a treasury reserve in 2020, acquiring 21,454 BTC at an average price of $11,653.
Since then, MicroStrategy has expanded its holdings to over 331,200 BTC, significantly boosting its stock value in 2024.
Other companies like Tesla, Block, and Semler Scientific have followed suit, diversifying corporate treasuries with BTC.
Bitcoin’s rising prominence in corporate and national strategies
President-elect Donald Trump's Bitcoin-friendly policies have further fueled optimism about Bitcoin's integration into corporate and national financial strategies.
Senator Cynthia Lummis has proposed a national Bitcoin reserve, aligning with similar ideas mentioned by Trump earlier this year.
MicroStrategy Chairman Michael Saylor plans to advocate for Bitcoin adoption within Microsoft at a December board meeting.
