Mentioned:
ATAI -12.33% SMLR
A psychedelic biotechnology company is embracing something new: Bitcoin. But, why?
What’s happening:
- atai Life Sciences (NASDAQ: ATAI) has purchased $5M USD of Bitcoin to hold directly as an asset
Why it matters:
- atai Life Sciences is one of the most advanced publicly listed psychedelic biotechnology companies in North America, with notable investors including Christian Angermayer, Mike Novogratz and Peter Thiel
Going deeper:
- This is the first time ever that atai Life Sciences has purchased Bitcoin to hold directly as an asset
- atai Life Sciences has also been seeing positive data from their clinical trials lately, including highly promising patient outcomes from their portfolio company Beckley Psytech’s Phase II open label study of DMT for Alcohol Use Disorder
The intrigue:
- This is not the first time that a publicly traded healthcare company has begun purchasing Bitcoin, with Semler Scientific (NASDAQ: SMLR) previously raising equity and debt financings to aggressively accumulate Bitcoin to hold directly as an asset
