PANews reported on December 20 that according to Globenewswire, Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM), a listed company in the biopharmaceutical industry, announced that with the approval of the board of directors, the company has purchased $1 million worth of Bitcoin and other cryptocurrencies as part of its strategic efforts. In addition, the company will allow future financing and other transactions in cryptocurrencies in the future. The company will hand over all its cryptocurrencies to fully compliant custodians for safekeeping. The company emphasized that all transactions will be in full compliance with all relevant financial and auditing regulations to ensure that the process is safe and legal. The company will continue to monitor market conditions and may increase or decrease its holdings of Bitcoin or other cryptocurrencies as it deems appropriate.