PANews reported on November 20 that according to PR Newswire, Hoth Therapeutics, Inc. (NASDAQ: HOTH), a US listed company, announced that its board of directors approved the purchase of up to $1 million in Bitcoin. Hoth CEO Robb Knie said: "As Bitcoin continues to grow and gradually become a major asset class, attracting the attention and recognition of investors, we believe that Bitcoin will become a strong fiscal reserve asset. With the recent approval of the Bitcoin ETF and the increasing activity of institutional investors, Bitcoin will become a powerful supplement to our fiscal strategy. We believe that Bitcoin's anti-inflation characteristics may make it a reliable asset with value storage function."

According to reports, Acurx Pharmaceuticals is a biopharmaceutical company. Earlier , another biopharmaceutical company, Acurx Pharmaceuticals, announced that its board of directors approved the purchase of $1 million in Bitcoin as a reserve asset.