Cosmos Well being Inc. introduced it has bought $600,000 price of Bitcoin as a part of its ongoing digital belongings treasury technique.
Following the newest buy, the healthcare firm mentioned its whole funding in digital belongings now stands at roughly $3.1 million, together with holdings in Bitcoin and different crypto.
The corporate didn’t share the worth level of the purchases.
Chief Government Officer Greg Siokas mentioned the corporate views choose digital belongings as a beautiful asset class with long-term upside potential.
He added that Cosmos Well being is constructing its place by way of a disciplined treasury method designed to diversify the corporate’s steadiness sheet whereas sustaining monetary flexibility.
Siokas famous that the agency’s crypto holdings might additionally present non-obligatory liquidity if the market continues to undervalue the corporate relative to its guide worth, permitting administration to deploy capital towards initiatives aimed toward growing shareholder worth.
As we proceed to broaden our core healthcare operations and execute on our broader development technique,” Siokas mentioned. “We imagine selectively allocating capital to digital belongings can complement our steadiness sheet and create further worth for shareholders.”
Listed on Nasdaq underneath the ticker COSM, Cosmos Well being operates a vertically built-in healthcare enterprise spanning pharmaceutical manufacturing, nutraceutical manufacturers, distribution, telehealth companies, and analysis partnerships targeted on situations together with weight problems, diabetes, and most cancers.
COSM is at present buying and selling at $0.36 a share.
Cosmos: Bitcoin is a hedge in opposition to inflation
In February, Cosmos mentioned it had expanded its digital belongings program with a $500,000 buy of Bitcoin, bringing its whole cryptocurrency investments to $2.5 million throughout Bitcoin and Ethereum.
The corporate mentioned the transfer was shifting its technique past different crypto whereas it additionally evaluated including different choose cryptocurrencies as a part of its treasury diversification efforts.
Again in late 2024, Cosmos introduced it might start including Bitcoin to its treasury reserves as a part of a broader technique to diversify its steadiness sheet and put money into rising applied sciences.
The corporate mentioned the transfer aligned with its forward-looking method to innovation, following its acquisition of an AI-driven drug repurposing platform.
Management framed the crypto allocation as each a possible hedge in opposition to inflation and forex devaluation and a method to achieve publicity to belongings with long-term development potential.
Cosmos Well being additionally indicated it was exploring the power to simply accept cryptocurrency funds from prospects whereas regularly constructing a bigger reserve of digital belongings over time.
On the time of writing, Bitcoin is buying and selling close to $71,000 after briefly touching $73,000 earlier this week.