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Biotech's ATAI Life Sciences Joins Roster of Firms With Bitcoin Treasury Strategies
Christian Angermayer, the firm’s chairman, stated that it will acquire $5 million in BTC.
What to know:
- Biopharmaceutical company atai Life Sciences has announced plans to develop its own bitcoin treasury strategy, initially investing $5 million in bitcoin.
- The move is intended to preserve and optimize capital amid inflation and market volatility, according to the company's chairman, Christian Angermayer.
- ATAI's stock briefly moved higher on the announcement, but was trading lower by 2.8% for the session at press time.
Another company has elected to add bitcoin (BTC) to its balance sheet.
Christian Angermayer, the chairman of Germany-based biopharmaceutical company atai Life Sciences (ATAI) announced today that the firm would develop its own bitcoin treasury strategy.
STORY CONTINUES BELOW
“In an era of persistent inflation and volatile markets, I find myself asking an important question for biotech companies looking to preserve and optimize the capital they have: Could allocating a portion of treasury cash to bitcoin help preserve, optimize, and even extend a company’s runway and hence contribute to its success,” Angermayer wrote on Substack.
The company will initially invest $5 million in bitcoin, Angermayer said, while holding enough cash, short-term securities and public equity for operational expenses into 2027.
The pharmaceutical firm is the latest in a long line of corporations which have sought to replicate Michael Saylor’s bitcoin treasury strategy.
ATAI briefly surged when the news broke but is now down 2.8% for the day. After briefly topping $87,000 overnight, bitcoin has been in quick retreat, now changing hands at $83,900, lower by about 1% over the past 24 hours.
Tom Carreras
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor's degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk's disclosure threshold of $1,000. Updated version of the bio, does it translate?
