PANews reported on November 21 that according to Globenewswire, the U.S. listed company Steakholder Foods Ltd. (Nasdaq: STKH) announced that the company's board of directors has approved the purchase of up to US$1 million worth of Bitcoin or an index tracking cryptocurrencies.

Arik Kaufman, CEO of Steakholder Foods, said: "As demand for cryptocurrencies continues to grow and their acceptance as an asset class continues to increase, we believe that Bitcoin or a diversified basket of cryptocurrencies including Bitcoin will become a strong financial reserve asset for the company. Given the recent approval of cryptocurrency ETFs and the growing support from institutional investors, cryptocurrencies can be a good complement to our financial strategy to provide a practical store of value."

According to reports, Steakholder Foods is a manufacturer of alternative protein and 3D printing technology. It is a company from Israel and is listed on the Nasdaq.