Another business has decided to include bitcoin (BTC) in its financial reserves.
Christian Angermayer, the chairman of the Germany-based biopharmaceutical entity atai Life Sciences (ATAI), shared today that the company will devise its own strategy for managing bitcoin as part of its treasury.
“In a time characterized by ongoing inflation and unpredictable markets, I often contemplate an essential question for biotech companies aiming to safeguard and enhance their capital: Might allocating a segment of treasury cash to bitcoin assist in preserving, optimizing, and potentially prolonging a company’s operating runway, thereby boosting its prospects for success?” Angermayer expressed on Substack.
The company intends to make an initial investment of $5 million in bitcoin, as noted by Angermayer, while maintaining sufficient cash, short-term investments, and public stocks to cover operational costs through 2027.
This pharmaceutical firm joins a growing list of corporations that have sought to emulate Michael Saylor’s approach to bitcoin treasury management.
ATAI experienced a brief uptick following the announcement but has since dropped by 2.8% on the day. Bitcoin, which had briefly surpassed $87,000 overnight, has started to decline, currently trading at $83,900, reflecting a decrease of approximately 1% over the last 24 hours.