📉🏥 NEGATIVE REACTION! Basel Medical shares drop 15% after $1 billion purchase plan in #bitcoin .
Shares of Basel Medical Group, a Singapore-based healthcare company 🇸🇬, fell by approximately 15% 📉 after announcing its intention to purchase $1 billion in Bitcoin ($BTC ) ₿ for its corporate treasury 🏦. Basel stated that this Bitcoin treasury would help finance its expansion plans in the Asian healthcare market 🌏 and establish a diversified asset base to withstand market volatility 🛡️. However, investors were not convinced 🤔.
Key points of Basel's plan:
Advanced discussions with investors to acquire $1 billion in #BTC through an "innovative stock swap arrangement" 🤝. Expected benefits: solid balance sheet, flexibility for mergers and acquisitions, and protection against volatility 🛡️💰.
The drop in shares suggests skepticism from shareholders 😟.
This is not the first instance where the market reacted negatively to corporate plans to acquire Bitcoin. GameStop also experienced a significant drop in its market capitalization when investors questioned its BTC accumulation strategy 🎮📉. Analysts wondered about the business model and the role of Bitcoin in the company 🤔.
Despite these reactions, corporate treasuries collectively hold approximately $80 billion in Bitcoin 🐳💰. Fidelity Digital Assets suggests that Bitcoin may be a valuable hedge against fiscal deficits, currency devaluation, and geopolitical risks for companies 🌍.
Are you surprised by the negative market reaction to Basel Medical's news? 🤔 Do you think more companies will face similar reactions when adopting Bitcoin as a treasury asset?
#BinancePizza #EthereumSecurityInitiative #CryptoRegulation
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