PANews June 5 news, according to Globenewswire, Nasdaq-listed biotechnology company Silo Pharma, Inc. (Nasdaq: SILO) announced that its board of directors has approved the purchase of $1 million worth of Bitcoin as a treasury reserve asset. Silo's CEO Eric Weisblum stated: 'Incorporating Bitcoin into our balance sheet is a strategic decision aimed at diversifying our assets and including what we believe to be a digital store of value with tremendous upside potential. Our purchase of Bitcoin is intended to hedge against inflation and is expected to help Silo maintain and optimize long-term shareholder value.'
