In brief
- The public healthcare company has announced negotiations to buy Bitcoin.
- Nasdaq-listed Basel Medical Group is the latest firm to adopt a Bitcoin-buying strategy.
- Buying Bitcoin, proponents argue, can save a company’s stock.
Healthcare company Basel Medical Group (NASDAQ: BMGL) joined a growing list of publicly held companies that are intent on adding Bitcoin to their balance sheets, announcing Friday that it had “begun exclusive negotiations” for a $1 billion BTC investment.
The Singapore-based company, which provides orthopedic and trauma services, said if approved, the buy would help it have one of the strongest balance sheets in healthcare companies in Asia.
Basel Medical Group said in a statement that the $1 billion would be an “innovative share-swap arrangement” and “landmark transaction” in order to buy the cryptocurrency.
Decrypt reached out to the firm for more details.
Basel Medical Group CEO Dr Darren Chhoa…
