Lixte Biotechnology closed down 16% on Wednesday, previously planning to invest 25% of its treasury funds in cryptocurrency

【Lixte Biotechnology closed down 16% on Wednesday, previously planning to invest 25% of its treasury funds in cryptocurrency】According to Golden Finance reports and Yahoo Finance data, clinical-stage pharmaceutical company Lixte Biotechnology (stock code: LIXT) closed at $4.06 per share on Wednesday, down 16%. Earlier, the company announced plans to allocate up to 25% of its reserve funds to Bitcoin reserves. As the sell-off of LIXT occurs, investors seem to be shifting from Bitcoin to Ethereum reserve companies, as ETH has recently outperformed the world's oldest cryptocurrency, benefiting from favorable market conditions. Bitcoin reserve companies had been highly sought after until recently, but the emergence of a number of new companies holding ETH has clearly contributed to ETH's recent surge. "2025 is the year of Ethereum reserve strategies," said Bitwise research analyst Danny Nelson in an interview.