TechFlow, Sept. 11 — On September 10, NASDAQ-listed LIXTE Biotechnology Holdings (ticker: LIXT and LIXTW) announced its initial purchase of 10.5 bitcoins and 300 ether, valued at approximately $2.6 million, as part of its capital diversification strategy.
According to the announcement, cryptocurrencies currently account for 43.6% of LIXTE's cash holdings, and the company's board has approved increasing the allocation of digital assets to 50%. Geordan Pursglove, Chairman and CEO of LIXTE, stated that this move aims to build a balanced and flexible digital asset strategy, enhancing the company's adaptability and long-term growth potential in the digital economy.
Earlier reports indicated that U.S.-listed biotech firm LIXTE planned to allocate up to 25% of its capital reserves to digital assets such as bitcoin.
