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Anixa Biosciences expands treasury strategy with Bitcoin

Author: Content Editor
Anixa Biosciences, a cancer-focused biotech firm, has announced plans to invest in Bitcoin as part of its financial strategy. The company will allocate a portion of its treasury to Bitcoin due to its "unique inflation-resistant qualities." This move has been approved by Anixa's board as part of a broader strategy to diversify its cash holdings. The company emphasized its strong balance sheet and excess cash, which allows it to pursue strategic financial initiatives while maintaining its focus on clinical trials and shareholder returns. The announcement led to a 7.84% increase in Anixa's shares in pre-market trading. This move aligns with a growing trend among public companies incorporating Bitcoin into their financial strategies as a hedge against inflation and a store of value.

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