Basel Medical Group – a Singapore-based medical company listed on Nasdaq (stock code: BMGL) – has just announced that it is in exclusive negotiations to purchase Bitcoin worth up to 1 billion USD. This is seen as a step towards a 'breakthrough financial transformation' and part of the company's expansion strategy in Asia.
Why would a medical company choose Bitcoin?
#BaselMedicalGroup operates in the field of orthopedic injury services and specialized treatment. However, the company's leadership believes that incorporating Bitcoin into their balance sheet will provide them with the strongest financial resources among medical companies in Asia.
CEO Dr. Darren Chhoa stated:
"This 1 billion USD deal will give us unprecedented capacity to execute our Asia development strategy while maintaining prudent financial management."
The deal is expected to be executed in the form of a share-swap – an innovative model never seen in the medical industry when it comes to digital assets like Bitcoin.
Following the 'MicroStrategy-ization' strategy
Basel Medical is not the first company to adopt a Bitcoin accumulation strategy. Previously, MicroStrategy (now renamed to Strategy) paved the way with the Bitcoin treasury model, holding up to 569,000 BTC – the most among listed companies. The stock price of MSTR has risen from 15 USD (before the purchase $BTC in 2020) to the current 400 USD/share, becoming a quintessential success story.
Smaller companies like Metaplanet (Japan) and Semler Scientific (healthcare) are also actively pursuing similar strategies. Metaplanet currently holds 6,796 BTC, worth over 706 million USD at current prices.
Perspective for crypto investors
The fact that a listed medical company #NASDAQ decides to allocate a large portion of its assets into Bitcoin shows an increasing confidence from traditional businesses in this digital asset. As cash value continues to erode, Bitcoin is seen as a tool for preserving value and could even enhance stock value if managed strategically. #anhbacong
Although the crypto market is gradually being accepted by larger institutions, investment always comes with risks. Please consider carefully and continuously update information before making decisions.