One other American publicly traded firm has adopted the Bitcoin normal.
Healthcare firm Cosmos Well being (NASDAQ: COSM) introduced Monday it plans so as to add Bitcoin, the largest digital coin by market capitalization, and Ethereum, the second greatest, to its steadiness sheet.
The corporate, which develops and sells medication and medical tools in Europe, additionally stated it was working to accommodate purchasers who need to make funds in crypto.
“We view choose crypto belongings, akin to Bitcoin and Ethereum, not solely as potential hedges towards inflation and foreign money devaluation but in addition as diversification instruments providing substantial upside potential,” Cosmos Well being CEO Greg Siokas stated in a press launch.
The corporate’s assertion added that it could sooner or later contemplate including “different cryptocurrencies and blockchain-related belongings.” It didn’t say how a lot it plans to put money into digital belongings or if it has already begun shopping for up BTC and ETH. Representatives for Cosmos Well being didn’t instantly reply to Decrypt’s questions.
Cosmos Well being inventory is up right now greater than 17%, with shares valued at $0.73.
The corporate is following within the steps of software program firm MicroStrategy, one other Nasdaq-listed agency that has put crypto on its steadiness sheet. Since August 2020, MicroStrategy has purchased Bitcoin as a option to get greater returns for shareholders and battle inflation.
It now holds 331,200 Bitcoins—value over $30 billion on the coin’s present value of $91,360—and primarily works to securitize the cryptocurrency: buyers should buy shares within the firm as a proxy to purchasing and holding the digital cash themselves.
Microsoft additionally made headlines final month after a Securities and Change Fee submitting confirmed that its upcoming shareholders assembly would ask buyers to vote on whether or not the software program large can buy Bitcoin for its personal treasury.
The pc firm suggested shareholders to vote towards the proposal of investing in Bitcoin, as Microsoft’s administration “already fastidiously considers this matter,” the submitting stated.
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