atai Life Sciences (ATAI) Will Develop Its Own Bitcoin Treasury Strategy

Christian Angermayer, the chairman of Germany-based biopharmaceutical company atai Life Sciences (ATAI) announced today that the firm would develop its own bitcoin treasury strategy.

German biopharmaceutical company atai Life Sciences (FSE: ATAI) is rolling out a bitcoin treasury strategy, chairman Christian Angermayer announced today.

In a post on Substack, Angermayer said that the firm would initially invest $5 million in bitcoin. The company will also hold enough cash, short-term securities and public equity for operational expenses into 2027.

“In an era of persistent inflation and volatile markets, I find myself asking an important question for biotech companies looking to preserve and optimize the capital they have: Could allocating a portion of treasury cash to bitcoin help preserve, optimize, and even extend a company’s runway and hence contribute to its success,” Angermayer said.

The pharmaceutical firm is the latest in a long line of corporations which have sought to replicate Michael Saylor’s bitcoin treasury strategy.

Since 2020, executives at companies ranging from Block (NYSE:SQ) to Tesla (NASDAQ:TSLA) have announced plans to purchase and hold bitcoin as part of their broader treasury management programs.

However, several firms, including Catamaran and Qualcomm, have since sold their bitcoin holdings, preferring to return to fiat.

ATAI briefly surged when the news broke but is now down 2.8% for the day. After briefly topping $87,000 overnight, bitcoin has been in quick retreat, now changing hands at $83,900, lower by about 1% over the past 24 hours.