TechFlow news, March 21 — According to Cointelegraph, NASDAQ-listed biopharmaceutical company Atai Life Sciences announced plans to purchase $5 million worth of Bitcoin. Christian Angermayer, the company's founder and chairman, said that cryptocurrencies could be key to helping biotech startups survive during the long regulatory approval process.
In a blog post on March 20, Angermayer noted that drug development is a "costly, long-term endeavor," with the necessary steps toward regulatory approval often taking more than ten years. Amid persistently high inflation and interest rates—what he calls a "biotech winter"—Bitcoin could serve as both a long-term hedge against inflation and a short-term diversified investment.
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