Basel Medical Group Ltd, a Singapore-based healthcare company listed on NASDAQ under the ticker BMGL, has announced plans to acquire $1 billion worth of Bitcoin through a share-swap deal with institutional and crypto investors
Basel Medical Group Ltd, a Singapore-based healthcare company listed on NASDAQ under the ticker BMGL, has announced plans to acquire $1 billion worth of Bitcoin through a share-swap deal with institutional and crypto investors. The company aims to diversify its treasury reserves and strengthen its balance sheet as it expands its business across Asian healthcare markets. This move comes amid falling share prices, with Basel Medical Group’s shares dropping 15% following the announcement. Separately, Chinese manufacturer Addentax Group Corp, which has a market capitalization of approximately $4.4 million, revealed potential plans to purchase about $800 million worth of Bitcoin and the TRUMP meme coin. The TRUMP meme coin has been associated with various marketing activities, including events involving dinners and community engagement, which have drawn attention to its promotional schemes.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Source: https://thedefiant.io/news/blockchains/singapore-based-basel-medical-group-plans-1-billion-bitcoin-acquisition-via-swap-cd5417b6