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LONDON - Medical (TASE:BLWV) device company TruSpine Technologies plc (AQSE:TRUP) announced Wednesday it is pursuing a Bitcoin Treasury Policy to complement its traditional cash reserves, according to a company press release.
The spinal stabilization device maker plans to strategically allocate capital from future fundraising efforts to build a bitcoin position, which the directors view as a hedge against inflation and geopolitical events.
"The Company will continue to focus on its core business, whilst growing a bitcoin treasury to facilitate the funding of such business over the medium-term," TruSpine stated in the announcement.
The company is currently exploring fundraising opportunities before commencing bitcoin acquisitions. No specific timeline or allocation percentages were disclosed in the statement.
TruSpine indicated it will provide updates on material changes to its bitcoin holdings and further developments regarding the treasury policy in future announcements.
The company, which specializes in vertebral stabilization medical devices, is advised by Cairn Financial Advisers LLP and Peterhouse Capital Limited.
This announcement was classified as containing inside information under UK Market Abuse Regulation, with TruSpine’s directors responsible for its release.
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