The biotech firm is betting on Bittensor as a long-term strategic asset linked to artificial intelligence.
Synaptogenix, a biotechnology company listed on Nasdaq, made an unexpected move into the crypto space by announcing an investment in Bittensor (TAO) — a cryptocurrency focused on artificial intelligence. This forms part of the company’s new strategy for diversification through digital assets.
Focus on AI-Powered Blockchain
In an official statement, Synaptogenix confirmed its first purchase of TAO without disclosing the exact amount. Previously, the company’s leadership had hinted that it could allocate up to $10 million toward a position in TAO, considered one of the most innovative AI-powered crypto projects to date.
BitGo as Custody and Staking Partner
To manage its new digital assets, Synaptogenix partnered with BitGo, which will provide:
- Custody of digital assets
- Trade execution and liquidity management
- Staking and yield generation from TAO
CEO Joshua Silverman described the move as a long-term investment with the potential for both revenue generation and participation in blockchain market innovation. He also noted the role of strategic advisor James Altucher, who influenced the company’s decision to select Bittensor.
AI Crypto Focus: Early Institutional Bets
While most institutional investors continue to focus on Bitcoin (BTC) and Ethereum (ETH), Synaptogenix stands out as one of the first public companies to make a significant bet on a next-generation AI crypto asset.
Conclusion:
Synaptogenix’s investment in TAO underscores the growing interest in the intersection of blockchain and artificial intelligence. Backed by reputable partners like BitGo and driven by a bold vision for long-term growth, the company sends a clear signal that crypto strategies are evolving beyond BTC and ETH — and that TAO may be among the next big players.
Frequently Asked Questions
Find answers to the most common questions below.
The company sees Bittensor as a strategic long-term asset aligned with the emerging AI and blockchain convergence, offering both innovation and revenue potential.
BitGo will provide custody, trade execution, and staking services for Synaptogenix’s TAO holdings.
Yes, it's among the first publicly traded firms to make a strategic investment in a next-gen AI crypto asset like Bittensor, diverging from the usual BTC/ETH focus.
This article is for general informational purposes only and is not intended to be, and should not be construed as, legal or investment advice. Crypto-assets are highly volatile, so only invest funds that you are willing to lose and use your own research and risk management.
