- Scilex Holding Company plans to sell $200 million worth of stock for BTC.
- It plans to sell $200 million of Semnus Pharmaceuticals stock in exchange for Bitcoin.
- This move shows BTC’s growing trend as a promising long-term investment option.
The pioneer crypto asset, Bitcoin (BTC), gains more mainstream recognition as a long-term, credible option for investment. Most recently, a reputed holding company revealed it will exchange certain stocks for Bitcoin (BTC). In detail, the Scilex Holding Company plans to sell $200 million worth of Semnus Pharmaceuticals stock for $200 million BTC. This is highly bullish news for BTC to maintain its long-term growth and value.
Scilex Holding Company Plans to Sell $200 Million of Stocks
The popularity of the pioneer asset Bitcoin (BTC) is no doubt gaining mainstream attraction across the world. In recent times, several reputed financial institutions and investment and holding companies are not only accumulating crypto asset like BTC and ETH, but some are also exchanging promising stock options for the pioneer crypto asset Bitcoin (BTC), most recent of which is Scilex Holding.
In detail, Scilec Holding Company is an innovative revenue-generating company focused on acquiring, developing, and commercializing non-opioid pain management products for the treatment of acute and chronic pain and becoming the global pain management leader committed to social, environmental, economic, and ethical principles to responsibly develop pharmaceutical products that maximize quality of life.
As we can see from the post above, Scilex Holding Company plans to sell $200 million worth of Semnur Pharmaceuticals stock for $200 million Bitcoin. Responses to the post state several positive and bullish reactions. Some of which say that the fact that a pharmaceutical firm converting $200 million in equity value into Bitcoin shows how adoption is no longer limited to tech or fintech.
Moreover, it signals how corporate treasuries across industries are starting to view BTC as a balance sheet asset. Additionally, it also bridges traditional sectors with digital finance. When companies outside crypto diversify into BTC it reinforces the case for Bitcoin as a universal store of value, not just a speculative play. Indeed, this is an interesting pivot showing how Bitcoin adoption is beyond crypto.
Exchanging $200 Million Worth of Semnus Pharmaceuticals Stock for BTC
In particular, one post says that this $200 million stock exchange of Bitcoin from a pharma company signals growing institutional confidence. One response even goes on to say that the fact that Pharmaceutical companies are entering Bitcoin is a noteworthy trend, and Scilex converting $200 million of stock into BTC signals growing corporate adoption beyond traditional tech and finance sectors.