Basel Medical Group Ltd (Nasdaq: BMGL) is set to acquire $1 billion in Bitcoin to diversify its treasury reserves and focus on expanding its medical services in Asia.
Through an innovative share-swap arrangement with a consortium of investors in the cryptocurrency sector, BMGL aims to bolster its balance sheet significantly.
The BTC acquisition will strengthen BMGL's financial position, improve flexibility for mergers and acquisitions, and allow better management of market volatility in the Asian healthcare industry.
CEO Dr. Darren Chhoa believes this transformation will provide unprecedented financial capacity for strategic growth in Asian markets while maintaining disciplined financial management.