Quantum Biopharma Spends a Million Bucks on Bitcoin—Because Why Not?
Quantum Biopharma, the Canadian biotech darling with dreams of curing everything from cancer to your Monday blues, just threw an extra million dollars at Bitcoin and other cryptocurrencies. That’s right, folks—while most of us are still trying to figure out how to turn our ramen into steak, Quantum is busy stacking digital gold. 🍣➡️💰
According to a press release dated May 19—because who doesn’t love a good date?—the company now owns approximately $4.5 million worth of crypto. Apparently, they’re planning to “stake” some of this digital cheddar to generate revenue. Because nothing says stability like gambling on the internet’s wild, rollercoaster ride of prices.
Quantum’s big idea? They hope that holding a treasury of Bitcoin and its crypto friends will not only give shareholders some nice returns but also serve as a hedge against the ever-volatile Canadian dollar. Ah, the sweet smell of diversification and hope mixed together. ☘️
Shares of Quantum’s stock, QNTM—because buying a ticket to the moon wasn’t available—jumped about 25% after the news broke. It’s like the market heard, “Hey, we’re now crypto billionaires… maybe.”
Popular treasury strategy
Quantum isn’t alone in the crazy: other health-focused corporations are diving headfirst into Bitcoin. In March, NASDAQ-listed Atai Life Sciences, probably hoping to sound more impressive at dinner parties, announced plans to buy $5 million worth of Bitcoin. Because if it’s good enough for Elon Musk, it’s good enough for biotech folks, right?
Atai’s founder, Christian Angermayer, said, “Bitcoin should be a part of ANY corporate treasury—especially in biotech.” Totally, Christian. Nothing screams stability like betting on a digital currency that can wildly fluctuate just because some guy on Twitter said so.
He also added that Bitcoin helps biotech companies avoid inflation and keeps them from collapsing while they wait for their million-dollar drug to get approved. Patience is a virtue, and apparently, so is being crypto-rich.
Meanwhile, in Singapore, Basel Medical Group announced a plan to buy a billion dollars worth of Bitcoin. Yes, you read that right—billion with a ‘B’. Their goal? To expand into Asia and have the strongest balance sheet this side of a bank vault. Or so they hope.
But wait—despite the jaw-dropping dollar signs, Basel’s shares took a nosedive on that very same day. Because, of course, what’s a good crypto gamble without a little disappointment? 🎢
All together, corporate treasuries globally hold over $83 billion in Bitcoin as of May 19. That’s enough to buy a small country—or at least a really fancy yacht. According to BitcoinTreasuries.NET, companies are now the second-largest institutional Bitcoin holders after ETFs. Because nothing says financial stability like an asset that moonwalks more than Michael Jackson.
As Fidelity Digital Assets pointed out in their 2024 report—because they definitely have their finger on the pulse—Bitcoin might just be the best way to hedge against growing deficits, money devaluation, and the chaos of geopolitics. Or simply a fancy game of digital roulette. 🎲
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2025-05-19 23:16