Acurx Pharmaceuticals is a biopharmaceutical research, development, and commercialization firm dedicated to the invention of new antibiotics for the treatment of serious bacterial infections. The company has concluded its consideration of investing $1 million in Bitcoin for uses as reserve assets. It is a strategic movement adopted by the company’s board of directors, demonstrating increasing acceptance of cryptocurrencies in mainstream finance.
David Lucy, the president and chief executive officer of Acurx Pharmaceuticals, noted that increasing demand for Bitcoin is the asset class, which promises to act as a dependable reserve for funds the company will not need for at least 12 to 18 months. He stressed that it acts as a good store of value because it is a deflationary asset.
Additionally, Lucy went on, the most promising factor making Bitcoin very attractive is approval any time soon of a Bitcoin exchange-traded fund (ETF) combined with the genuine support by governments and institutional investors. “Limited availability, inflation-resistant, and other features make bitcoin a safe way to park value,” he added.
Importantly, Lucy is confident that investing in Bitcoin will, more than anything, not impact on Acurx Pharmaceutical’s ongoing plans to develop drugs. Rather, for him, the purchase on Bitcoin is strategic as it allows for diversification of the asset rich in cash and cash equivalents while continuing to constitute a pillar in healthcare innovation.
As many companies dip their toes into cryptocurrency investments, Acurx Pharmaceuticals is but the latest addition to the long list of organizations impressed by the advantages supported by the dollars employed to incorporate digital assets into their financial portfolios. This trend may show a legitimate shift toward the acceptance of innovative financial solutions within several industries.
