TechFlow, August 13 — According to Globe Newswire, NASDAQ-listed biotech company LIXTE Biotechnology Holdings (ticker: LIXT, LIXTW) announced that its board of directors has approved a strategic capital allocation plan to include cryptocurrency as part of its corporate treasury reserves. The company plans to allocate up to 25% of its cash reserves to digital assets such as Bitcoin.
LIXTE stated that the timing and scale of specific transactions will depend on market conditions and other strategic considerations. The company will hold cryptocurrency assets through fully compliant custodial institutions, and all transactions will strictly adhere to relevant financial, legal, and auditing regulations. Geordan Pursglove, Chairman and CEO of LIXTE, said the move aims to hedge existing reserve assets and generate returns for shareholders.
