Silo Pharma's board of directors approves purchase of Bitcoin as a treasury reserve asset

According to Globenewswire, Silo Pharma, Inc. (Nasdaq: SILO), a biopharmaceutical listed company on NASDAQ, announced that its board of directors has approved the purchase of $1 million worth of Bitcoin as a treasury reserve asset. Eric Weisblum, CEO of Silo, said, "Incorporating Bitcoin into our balance sheet is a strategic decision aimed at diversifying our assets and incorporating digital value storage tools that we believe have enormous upside potential. Our purchase of Bitcoin is aimed at preventing inflation and is expected to help Silo maintain and optimize long-term shareholder value