PANews reported on November 20 that according to PR Newswire, Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP), a US listed company, announced that its board of directors approved the purchase of up to $1 million in Bitcoin as a fiscal reserve asset. David P. Luci, President and CEO of Acurx, said: "With the growing demand for Bitcoin and its increasing acceptance as a major asset class, we believe that Bitcoin will become a strong reserve asset to make up for cash shortages in the next 12 to 18 months. With the recent approval of Bitcoin ETFs and the growing support from government agencies and institutional investors, Bitcoin will be a great addition to our funding strategy. Bitcoin's limited supply and anti-inflation properties make it a practical means of storing value. This new funding strategy is a financial strategy and will not affect our overall drug development plan."
According to reports, Acurx Pharmaceuticals is a late-stage biopharmaceutical company.
