Silo Pharma Invests $1 Million in Bitcoin for Treasury Reserves

Nasdaq-listed biopharmaceutical company Silo Pharma has received board approval for a strategic move: purchasing $1 million worth of Bitcoin to bolster its treasury reserves. CEO Eric Weisblum explained that incorporating Bitcoin is part of their broader strategy to diversify assets and incorporate digital value storage into their balance sheet, capitalizing on the potential for significant growth. Silo’s investment in Bitcoin aims to hedge against inflation and ensure long-term shareholder value preservation.