Basel Medical Group Ltd plans to acquire $1 billion in Bitcoin through a share-swap arrangement, aimed at diversifying financial reserves while maintaining focus on medical services in Asia.
Following the announcement, Basel's stock fell by 15%, reflecting investor concerns over the company's cryptocurrency investments.
CEO Dr. Darren Yen Feng Chhoa emphasized that this strategic financial restructuring is designed to enhance growth capacity across Asia, aligning with a broader trend of digital asset adoption among corporations.
This significant investment signifies a noteworthy shift in institutional investment towards cryptocurrencies, potentially influencing similar decisions across various sectors.
Full story here: https://coincu.com/338059-basel-medical-bitcoin-acquisition
