Biotechnology company Profusa has announced an investment of $100 million in Bitcoin and the establishment of its own cryptocurrency vault.
This is reported by Business • Media
Profusa’s Investment Strategy and Key Terms of the Agreement
Profusa, which specializes in developing digital solutions for continuous monitoring of human biochemical indicators, has officially launched a Bitcoin strategy for its treasury. To implement this strategy, Profusa has entered into an agreement with Ascent Partners Fund LLC for $100 million. The funds obtained from the issuance of shares will be used to purchase Bitcoins.
Under the terms of the equity line of credit (ELOC), Profusa will have the opportunity to gradually sell Ascent common shares at a price of 97% of the lowest average price over the last five trading days. The funds will be used exclusively for purchasing Bitcoins, provided that the company’s cash balance exceeds $5 million. If the cash balance is less than $5 million, the funds will first be allocated to replenish reserves up to this amount, and only the remainder will be used for purchasing Bitcoins.
“In the context of accelerated currency devaluation, holding Bitcoin on our balance sheet is a strategic move to protect value for shareholders and adapt to a digital future,” said Ben Hwang, Ph.D., Chairman and CEO of Profusa.
Prospects for Profusa and the Cryptocurrency Market
The CEO of Profusa emphasized that implementing such a financial strategy combines effective financial management with adherence to Profusa’s core mission—creating a digital health platform aimed at combating chronic diseases and supporting well-being. The company plans to conduct its first Bitcoin purchases over the next week. Further information on the volume of Bitcoin assets will be included in the quarterly financial report.
As part of the agreement, Ascent will receive options to purchase 900,000 shares of Profusa at a price of $0.01 per share, which is part of the ELOC terms. The total number of shares issued will not exceed 19.9% of the total amount until approved by shareholders.
It is worth noting that the largest holder of Bitcoins among companies remains Strategy, with a balance of 607,770 BTC.
In recent months, activity in the cryptocurrency market has also been reported by other companies from various sectors:
- Semiconductor developer Sequans purchased 1,264 BTC,
- Investment company Cardone Capital created a portfolio of 1,000 BTC,
- Video game retailer GameStop increased its Bitcoin balance by 4,710 BTC,
- British The Smarter Web Company added 230.05 BTC to its reserves.