This Biotech Penny Stock Is Betting Big on Ethereum. Does Its Rapid Crypto Transformation Make It a Buy?

In recent weeks, the main trend is revealed in Wall Street. Companies from all industries and sectors convert their attention to encrypted cabinet strategies, using their capital to buy cryptocurrencies such as Bitcoin (BTCUSD) and ETHEREUM (Ethusd).

Its headquarters is located in Palo Alto, California, 180 Life Science Corp (ATNF) was established as a biotechnology company for clinical stage that focuses on developing new treatments for inflammatory diseases, conditions associated with inflammation, pain, and cognitive arrangement after the surgery.

Once the market value is $ 290 million, the maximum of the company’s current market is now a small part of those levels at $ 21.6 million. Although the shares have increased by 95.3 % on the basis of YTD, ATNF shares have decreased by 99 % since its inclusion, which represents a huge loss in the value of the shareholders.

Now, these shares are biotechnology on everything on Ethereum.

180, life sciences with ETHEREUM (Ethusd) as a preferred digital assets have become a successful encoding treasury company. As part of this brand, the company will change its name and is known as Ethzilla, which the administration believes is in line with its aspirations to become “one of the largest ETH holders in the world.”

The company will raise $ 425 million through a private investment in public stocks (PIPE) that offers $ 2.65 per share, with plans to raise $ 150 million through debt. The new company will participate with the Electric Capital Asset Director, whose experience will help generate the return on ETHEREUM with the “Series Different Back Return Program”, the company to distinguish from the growing treasury package.

Commenting on the development in an interview with him recently, the next Ethizzelle president, Dakdro Rodisel, said: “ETH is one of the most valuable cryptocurrencies in the world because it can be used for people to create financial applications and tools to manage assets and generate a real return curve, and the return will be built on the return.”

It is right, with a height of $ 463 billion, Ethereum is the second largest encrypted currency in the world with only Bitcoin in the classification. ETHEREUM was launched in 2015, which is an open source Blockchain platform that allows the creation and publishing of smart contracts and decentralized applications (DAPS).