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 stability sheet.
The corporate, which develops and sells medication and medical tools in Europe, additionally mentioned it was working to accommodate purchasers who wish to make funds in crypto.
“We view choose crypto belongings, comparable to Bitcoin and Ethereum, not solely as potential hedges in opposition to inflation and forex devaluation but additionally as diversification instruments providing substantial upside potential,” Cosmos Well being CEO Greg Siokas mentioned in a press launch.
The corporate’s assertion added that it might sooner or later think about including “different cryptocurrencies and blockchain-related belongings.” It didn’t say how a lot it plans to spend money on 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 this moment 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 stability sheet. Since August 2020, MicroStrategy has purchased Bitcoin as a approach to get larger returns for shareholders and struggle 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 big can purchase Bitcoin for its personal treasury.
The pc firm suggested shareholders to vote in opposition to the proposal of investing in Bitcoin, as Microsoft’s administration “already fastidiously considers this matter,” the submitting mentioned.
