TechFlow news — On November 21, U.S. publicly traded company Steakholder Foods Ltd. (Nasdaq: STKH) announced that its board of directors has approved the purchase of up to $1 million worth of bitcoin or cryptocurrency-tracking indices.
Arik Kaufman, CEO of Steakholder Foods, said the company believes bitcoin, or a diversified basket of cryptocurrencies including bitcoin, can serve as strong treasury assets, given rising demand and increasing acceptance of cryptocurrencies as an asset class.
With recent approvals of cryptocurrency ETFs and growing institutional investor support, cryptocurrencies could become a valuable addition to the company's financial strategy. Steakholder Foods is an Israel-based alternative protein and 3D printing technology company listed on Nasdaq.
