Scilex Finalizes $150M Bitcoin Investment in Datavault AI

Scilex Holding Company, Nasdaq-listed, finalizes a $150 million Bitcoin investment in Datavault AI, marking a strategic shift from traditional biotech investments into digital assets.

This transaction highlights a rare move by biotech firms towards digital currencies, potentially influencing market dynamics within the biotechnology and AI sectors.

Scilex’s Bold Move: First Biotech Bitcoin Investment on Nasdaq

Scilex Holding Company has completed the first tranche of a $150 million investment into Datavault AI Inc. using Bitcoin. This initial tranche involves 15 million shares at $0.5378 per share, with provisions to reach 278.9 million shares upon shareholder approval.

DataVault AI Secures $150 Million Investment for Growth marks a notable shift from its traditional non-opioid therapy focus, demonstrating a strategic interest in digital assets. The use of Bitcoin in this transaction is a first for a publicly listed biotech firm.

“We are thrilled to secure this strategic investment from Scilex, which demonstrates strong cross-sector confidence in our data solutions for the healthcare and biotechnology verticals.” — Nathaniel Bradley, CEO, Datavault AI

Bitcoin’s Role in Cross-Sector Biotech Investments

Did you know? Scilex’s Bitcoin investment is unique as it marks the first notable use of a digital currency by a biotech firm on Nasdaq, highlighting an evolving landscape in cross-sector investments.

According to CoinMarketCap, Bitcoin currently stands at $110,231.55 with a market cap of 2,196,630,883,322 and a 24-hour trading volume of 26,457,395,255. Over the past 90 days, Bitcoin has seen a 2.78% price increase.

Coincu research suggests this strategic move may encourage more biotech firms to explore digital asset transactions and could lead to heightened industry collaborations. Regulatory responses remain crucial, considering Bitcoin’s evolving role in diverse investments.