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- Basel Medical Group is pioneering something in the medical field, as it plans to use $ 1B Bitcoin as a treasury reserve asset.
- This move is similar to MicroStrategy‘s Bitcoin play, where the company became more valuable for holding BTC than for the company’s core business.
Basel Medical Group (BMGL), a Singapore-based healthcare provider, has announced plans to acquire $1 billion worth of Bitcoin (BTC). The deal, structured as a share-swap arrangement, signals a significant shift in how traditional companies view digital assets as part of their long-term strategy.
In simpler words, a share-swap is a deal by which a company trades its shares for assets, in this case, Bitcoin, instead of money. Such deals are usually used in mergers, acquisitions, or asset purchases to allow the companies to stay liquid and yet purchase high-value assets.
According to the official announcement, BMGL‘s move to introduce Bitcoin into its corporate treasury is driven by two key goals: financial diversification and funding rapid growth in Asia‘s growing healthcare markets. By holding Bitcoin, the company gains access to an apolitical, non-sovereign asset, a potential hedge against inflation, which is highly desirable when operating in multi-currency markets.
BMGL is currently negotiating with a group of institutional cryptocurrency investors to complete the acquisition of Bitcoin. If it goes through, the transaction would be among the biggest Bitcoin balance sheet acquisitions by a healthcare company in the Asia-Pacific region.
BMGL’s CEO, Dr. Darren Chhoa, commented, “This US$1 billion financial transformation will give us unprecedented capacity to execute our Asia growth strategy while maintaining conservative financial management. Our expanded balance sheet will allow us to move quickly on strategic opportunities as we build a premier healthcare platform across high-growth Asian markets.”
The company expects to seal the deal this quarter pending regulators‘ and shareholders‘ approval. This is not BMGL‘s first strategic move of 2025. Earlier in the year, it acquired Bethesda Medical, a Singapore-based company that deals in diagnostic imaging and outpatient centers. The acquisition was Basel’s further push into Southeast Asia‘s fast-developing healthcare business.
Joining the Corporate Bitcoin Club
BMGL isn’t the only company turning to Bitcoin as part of its treasury strategy. Around the world, more and more firms are making similar moves. In Japan, for example, Metaplanet recently added 1,241 BTC to its reserves, pushing its total holdings past 6,700 BTC. Over in the U.S., medical tech company Semler Scientific now holds 3,808 BTC, more than 1,500 of which were purchased just this year.
Of course, MicroStrategy still leads the pack by a wide margin. The company has amassed a jaw-dropping 568,840 BTC, having kicked off this trend years ago. And in Brazil, fintech company Méliuz has joined the wave too, investing $28.4 million into Bitcoin and becoming one of the first companies in Latin America to adopt it as a treasury asset.
