TruSpine Technologies (AQSE:TSP) saw its shares surge more than 300% in early trading on Wednesday after announcing plans to establish a Bitcoin treasury, despite its core focus remaining in spinal stabilisation medical devices.
The company said it intends to hold a portion of future fundraising proceeds in Bitcoin, alongside traditional cash reserves, as part of a strategy to preserve value and hedge against inflation and geopolitical uncertainty.
While still in the early stages, TruSpine is actively exploring funding options that would enable it to begin acquiring the cryptocurrency.
Directors said the policy reflects their belief in Bitcoin’s long-term potential as a financial asset, and that relevant updates would be issued as holdings develop.
The move follows a growing trend among smaller listed firms looking to integrate digital assets into treasury management, though TruSpine stressed that its primary business remains unchanged.
After the surge, the shares settled at 1.65p, 200% higher than Tuesday's close on Aquis.