Steakholder Foods (STKH) announced that the Company’s Board of Directors has approved the purchase of up to $1 million in Bitcoin or cryptocurrency tracking indices. “As demand for cryptocurrencies grows and so does their acceptance as an asset class, we believe that Bitcoin, or a diversified basket of cryptocurrencies including Bitcoin, will serve as strong treasury reserve assets for the Company,” said Arik Kaufman, CEO of Steakholder Foods. “With recent approval of cryptocurrency ETFs and growing support from institutional investors, cryptocurrencies could be a great addition to our treasury strategy, with a view to providing a functional store of value.”
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STKH:
- Steakholder Foods Expands with New Deals and Awards
- Steakholder Foods signs six commercial LOIs with international players
- Steakholder Foods Advances with 3D-Printed Seafood Grant
- Steakholder Foods secures $270k in second SIIRD grant installment
- Steakholder Foods Embarks on Revenue Journey with Key Deals