Companies have started competing with each other to buy Bitcoin (BTC)! A Nasdaq-listed company is purchasing 1 billion Dollars worth of BTC!

Basel Medical Group, traded on Nasdaq (BMGL), announced that it has begun private discussions for the purchase of Bitcoin (BTC) worth 1 billion dollars.

The company’s large-scale BTC acquisition is planned to be carried out through a share exchange arrangement with institutional investors and influential wealthy individuals in the crypto space. The transaction is aimed to be completed within this quarter of the year.

According to the press release made by BMGL, this strategic move aims to strengthen the company’s balance sheet and support its expansion plans in Asia’s healthcare market, which has high growth potential. The company stated that the purchase of Bitcoin would significantly diversify its treasury while continuing to focus on medical services.

Dr. Darren Chhoa, CEO of Basel Medical Group, stated, “This $1 billion financial transformation will unprecedentedly enhance our capacity to implement our growth strategy in Asia. Thanks to our expanding balance sheet, we will be able to respond quickly to strategic opportunities.”

According to the statements in the published press release, with the planned capital entry, the company:

• It will have one of the strongest balance sheets among Asia-based healthcare service providers,
• Will gain significant flexibility in purchases and mergers,
• It will create a diversified asset base that is resilient against market fluctuations,
• It will become a medical group with a strong capital structure in the developing Asian markets.