Medical Data Company OneMedNet Latest to Pursue Bitcoin Treasury Strategy After Capital Raise
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Crypto fund Off The Chain Capital made more than 1,000,000 greenback funding into medical info firm OneMedNet so that it could maybe well buy bitcoin.
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The fund hopes to outperform the worth of bitcoin by its investments by purchasing for it for a cut price by allocations take care of this.
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OneMedNet (ONMD) leisurely closing month raised $4.6 million in a non-public placement and feeble $1.8 million of the proceeds to buy bitcoin (BTC), in step with a assertion.
Amongst the investors became as soon as Off The Chain Capital, a crypto funding fund with ties to Bloq Chairman Matthew Roszak and Fortress founder Rob Kauffman, which bought a combination of shares and warrants in ONMD.
OneMedNet has viewed its inventory tag descend more than 90% because it came public via a SPAC deal leisurely closing year.
“It’s an opportunity that if it essentially works precisely, it could maybe maybe outperform bitcoin’s efficiency,” Brian Dixon, CEO of Off The Chain Capital urged CoinDesk. “From our design as an investor, we’re purchasing for these cut price or worth opportunities and we work essentially onerous to strive to outperform bitcoin.”
Dixon believes that it is a truly great for public corporations to reinvest just a few of their money into bitcoin, slightly than true estate, shares or bonds, in tell to add doubtlessly the most shareholder worth.
“I receive more and more public corporations are going to wake as a lot as the truth that need to you don’t receive bitcoin for your balance sheet, you’re no longer being shining as a fiduciary to that further money waft you receive by the prevent allocate this segment of your treasury reserve approach,” he mentioned.
In this, Off the Chain and OneMedNet is making a equal argument to that of Michael Saylor, whose MicroStrategy (MSTR) has viewed its inventory tag outperform the return of bitcoin for the explanation that firm started adding the crypto to its balance sheet in August 2020.
U.S.-listed Semler Scientific and Japan’s Metaplanet are among other publicly traded corporations pursuing equal solutions.
Edited by Stephen Alpher.
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