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Hoth Therapeutics, a publicly-traded biopharmaceutical company, has adopted Bitcoin (BTC) as a treasury asset. The clinical-stage biopharmaceutical company announced on Nov. 20 that its board of directors had approved adding BTC to its balance sheet. In the first step of this significant move, Hoth Therapeutics will buy up to $1 million in Bitcoin, according to details in a press release. Big move as Hoth buys Bitcoin Hoth points to Bitcoin’s traction as an investment asset, global adoption and rising institutional purchase as key to its decision. Bitcoin ETFs and options approval, increased ETF inflows and assets as well as plans for strategic BTC reserves has also buoyed several platforms. The Hoth management team also looked at BTC as a hedge against inflation and store of value as crucial Features . “As Bitcoin continues to grow, gaining investor attention and acceptance as a major and primary asset class, we believe that Bitcoin will serve as ...

The rise of digital currencies such as Bitcoin (BTC) has shone a new light on gold’s role as a store of value. While the two assets have different risk profiles and correlations, many investors are increasingly gravitating toward BTC — mainly on account of its ability to deliver immense returns. Opinions are split on the matter — whereas financial educator Robert Kiyosaki, for example, recommends holding both,  precious metal analyst Peter Spina deemed the digital asset’s role as ‘digital gold’ an utter failure. Both investments have seen significant price action throughout 2024. At press time, BTC is trading at $66,640 — year-to-date (YTD) gains stand at 57.88%, although trading has been choppy since late September. The cryptocurrency has frequently and unsuccessfully been testing the psychologically important price point of $70,000. Picks for you ...

Inflationary pressures have once again come under the spotlight as the U.S. released its latest Producer Price Index (PPI) data on October 11, 2024, for the month of September. According to the latest data from the Labor Department , the PPI remained flat on a month-over-month basis, defying expectations of a 0.1% increase. However, on a year-over-year basis, PPI rose by 1.8%, slightly exceeding the forecast of 1.6%. Similarly, the U.S. Consumer Price Index (CPI) data showed that inflation remains sticky. On a monthly basis, CPI came in at 0.2%, the same as in August and July. Year-over-year inflation cooled slightly to 2.4%, down from 2.5% in August, but above the market expectation of 2.3%. Picks for you Chinese stocks register big losses as China’s stimulus cools down 3 hours ago ...