In the wake of President-elect Donald Trump’s victory on November 5, there has been a notable surge in interest surrounding Bitcoin (BTC) and other digital assets. This trend is prompting global firms and governments to explore integrating leading cryptocurrencies into their treasury reserves, a shift that reflects a broader acceptance of digital currencies, particularly in the United States.
Bitcoin And Ethereum To Serve As Hedges Against Inflation
On Monday, International Healthcare Group Cosmos announced its decision to incorporate Bitcoin and Ethereum (ETH) into its treasury reserve assets, as part of its “forward-thinking” investment approach. This decision follows the company’s recent acquisition of Cloudscreen, an artificial intelligence-driven platform for drug repurposing.
By adding Bitcoin and Ethereum, along with the potential for other cryptocurrencies and blockchain-related assets, Cosmos aims to diversify its balance sheet and capitalize on the growing global adoption of digital currencies.
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The company is also taking steps to accommodate customers wishing to make payments in cryptocurrencies. Greg Siokas, CEO of Cosmos Health, expressed the company’s commitment to innovation, stating:
Cosmos is a flexible, agile, and forward-looking Company. We believe this strategy will help us stand out by making a significant investment in the new era. Alongside our AI capabilities, we are now incorporating crypto assets and continually seeking additional future-focused investments to benefit our shareholders.
Siokas highlighted Bitcoin and Ethereum as potential hedges against inflation and currency devaluation, while also serving as diversification tools with considerable upside potential. Siokas looks forward to building a sizable reserve in these digital assets.
Growing Acceptance Of Cryptocurrencies
In a parallel move, Semler Scientific, a company dedicated to developing technology products for healthcare providers, has also made headlines with its Bitcoin activities.
Between November 6 and November 15, Semler disclosed it acquired 215 BTC for approximately $17.7 million, averaging $82,502 per Bitcoin, including fees. As of November 15, Semler holds 1,273 BTC, acquired for an aggregate price of $88.7 million, averaging $69,682 per Bitcoin.
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Semler Scientific uses Bitcoin Yield as a key performance indicator (KPI) to evaluate its investment strategy. From October 1 to November 15, the BTC Yield was reported at 18.9%, and since adopting its Bitcoin treasury strategy in the second quarter of 2024, the yield has risen to 37.3%. Eric Semler, chairman of Semler Scientific, noted:
We have achieved a BTC Yield of 37.3% since adopting our bitcoin treasury strategy. We believe this demonstrates substantial bitcoin accretion for our stakeholders.
Both companies are showcasing a growing trend among businesses and institutions to embrace digital assets, recognizing their potential as valuable components of a diversified investment strategy.
When writing, the leading digital asset is trading at $91,855, recording a 1.5% increase in the 24-hour time frame and inching closer to its all-time high of $93,300 reached last week. On the other hand, Ethereum is trading at $3,180, also up nearly 3% in the same time frame.
Featured image from DALL-E, chart from TradingView.com