Lixte Biotechnology (LIXT) announced it has made an initial purchase of cryptocurrencies to further diversify its treasury holdings and for potential acquisitions. The company purchased 10.5 Bitcoin (BTC-USD) and 300 Ethereum (ETH-USD) for a total of approximately $2.6M as part of its strategy to strengthen its treasury position and expand its ability to transact across multiple mediums of exchange. Cryptocurrency now totals approximately 43.6% of Lixte’s treasury holdings. Recently, the company’s board of directors approved an increased allocation of up to 50%vof its treasury to cryptocurrencies.
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