Basel Medical Group (BMGL) plans to acquire $ 1 billion in Bitcoin (BTC) Cryptocurrency, according to a Friday statement. The purchase will “diversify its treasury reserves to a great extent, while retaining its core focus on the extension of medical services,” says the company.
“BMGL is in advanced discussions with a consortium of institutional investors and individuals with high net value, which are influential in the crypto gym, to acquire a $ 1 billion BTC through an innovative share arrangement,” said Basel Medical Friday. “The management believes that this landmark transaction, if successful, will represent one of the biggest improvements in companies’ balance sheet in Asia and Pacific.”
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Dr. Darren Chhoa, CEO of BMGL, emphasized: “This financial transformation of $ 1 billion will give us an unmatched capacity to implement our ASIA growth strategy while maintaining conservative economic management. Our extended balance sheet will allow us to move quickly on strategic opportunities when we build a strategic possibilities.
Basel Medical plans to complete the Bitcoin purchase at the end of Q2 2025.
The acquisition involves a share break with institutional investors and individuals with high net value and is waiting for the approval of the legislation.