At a time when the biggest cryptocurrencies are soaring again, there are companies that are making an effort to diversify into the sector and one such company is Universal Wellness Holding Corp (OTC: ADHC).
On Friday the Universal Wellness stock surged 137% after it emerged that the company is working on due diligence formalities with regards to the acquisition of Bitcoin worth $20 million. The move led to considerable optimism about the company and eventually resulted in a strong rally.
The company informed that its members of the technical team are currently engaged in completing a review of the algorithms and also the safety, security, and efficiency aspects. Once that particular step is completed, Universal Wellness is going to start a complete accounting and legal review in order to figure out the reporting requirements with regards to the crypto transaction. Investors could consider keeping an eye on the stock next week.
Biotech, Tech, and Crypto reporter
Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.