Nasdaq-Listed Healthcare Company Aims to Acquire $1 Billion in Bitcoin
Basel Medical Group (NASDAQ: BMGL) has initiated exclusive negotiations for a $1 billion Bitcoin investment, aiming to enhance its balance sheet in the healthcare sector. The Singapore-based company, specializing in orthopedic and trauma services, views this potential investment as a significant financial transformation to support its growth strategy in Asia while maintaining conservative financial management. The investment would involve an "innovative share-swap arrangement." Bitcoin is currently trading around $104,100, having increased by 22% over the past month. Other companies, including Strategy (formerly MicroStrategy), have adopted similar Bitcoin strategies, with Strategy being the largest corporate holder of Bitcoin, significantly boosting its stock price since its initial purchase in 2020. Smaller firms like Metaplanet and Semler Scientific are also following suit, believing in Bitcoin's long-term value as cash depreciates.
