The firm, which focuses on the treatment of mental health disorders, announced plans Thursday to acquire $5 million worth of Bitcoin as a starting point.
The company filed an 8-K with the U.S. Securities and Exchange Commission earlier Thursday, and indicated that it plans to deploy $5 million into Bitcoin over the next few weeks to seed its treasury. At today’s prices, $5 million would net the company around 59.23 BTC.
Uh oh should we do a simply wall st breakdown of this business?
Never heard of them before. Here's a quick grok breakdown - still pre-revenue. ~100M in cash
Waiting for a large, established, growing, profitable company to make a statement by establishing a bitcoin treasury. Seems like a lot of these companies running the MSTR playbook are not terrific businesses hoping to get saved by BTC growth.
It’s an app that does quick and easy breakdowns of publicly traded companies
ahh yeah i downloaded it before based on your recommendation... it's pretty good! I meant I'd never heard of Atai :P
Yeah that’s my point even MSTR they aren’t a revenue generating beast and stacking bitcoin with excess savings
Follow-up:
Here is the second blog post by the founder of atai Life Sciences, published today: What psychedelics and Bitcoin have in common
In short: Both stand for freedom
I have posted my own thoughts on this recently: 877770
Cool, they are working on psychedelics for the treatment of mental disorders.
There is a blog post by the founder of atai Life Sciences: https://christianangermayer.substack.com/p/why-bitcoin-can-be-a-valid-part-of
It´s worth reading! He makes the point that especially for drug developing companies Bitcoin is a great tool. Development of a new drug usually takes around 10 years. During this time the company doesn´t earn anything but sits on tons of cash from investors that is being devalued by inflation. I especially like this take:
"...if there’s one constant in life, it’s that there will always be some degree of political mismanagement."
It's crazy how common this is becoming. It's going to hit a tipping point eventually.