In the wake of President-elect Donald Trump's victory on November 5, there has been a notable increase in interest around bitcoin (btc) and other digital assets. This trend is driving global companies and governments to explore the integration of leading companies cryptocurrencies in its treasury reserves, a change that reflects broader acceptance of digital currencies, particularly in the United States.
bitcoin and ethereum will serve as a hedge against inflation
On Monday, International Healthcare Group Cosmos <a target="_blank" href="https://finance.yahoo.com/news/cosmos-health-integrates-bitcoin–ethereum-130000895.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIFyWr-kt-LWPvyO1a1zvECLSF9mIfEl0jsIFvqIPwRSpNCV4H4YgCS2JJvCT_Z_FbU_ForDlmpXoek1l2bU6jzSxLzLOQf3v1JDIE1KiGKofxpGRJH0pEUouC1IDGQyT4yG4XoPK3pJdweSr0Lph0SkodB66GhVl3gzhZPoTpFW&_guc_consent_skip=1731945929″ target=”_blank” rel=”noopener nofollow”>announced its decision to add bitcoin and ethereum (eth) to its treasury reserve assets, as part of its “forward-looking” investment approach. This decision follows the company's recent acquisition of Cloudscreen, an artificial intelligence-powered platform for drug repurposing.
By adding bitcoin and ethereum, along with the potential of other cryptocurrencies and blockchain-related assets, Cosmos aims to diversify its balance sheet and capitalize on the growing global adoption of digital currencies.
The company is also taking steps to accommodate customers who wish 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-thinking company. We believe this strategy will help us stand out by making a significant investment in the new era. In addition to 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 possible hedges against inflation and currency devaluationwhile serving as diversification tools with considerable growth potential. Siokas hopes to build 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 15, Semler <a target="_blank" href="https://www.prnewswire.com/news-releases/semler-scientific-announces-btc-and-atm-activity-raised-21-5-million-purchased-additional-215-btc-now-holds-1-273-btc-with-btc-yield-of-37-3-302308149.html” target=”_blank” rel=”noopener nofollow”>revealed acquired 215 btc for approximately $17.7 million, averaging $82,502 per bitcoin, including fees. As of November 15, Semler holds 1,273 btc, purchased for a total price of $88.7 million, with an average of $69,682 per bitcoin.
Semler Scientific uses bitcoin Yield as a key performance indicator (KPI) to evaluate its investment strategy. From October 1 to November 15, the btc performance It was reported to be 18.9% and since adopting its bitcoin treasury strategy in Q2 2024, the return has increased to 37.3%. Eric Semler, President of Semler Scientific, said:
We have achieved a 37.3% btc return since adopting our bitcoin treasury strategy. We believe this demonstrates a substantial accumulation of bitcoins for our stakeholders.
Both companies are showing a growing trend among companies and institutions to adopt digital assets, recognizing their potential as valuable components of a diversified investment strategy.
At the time of writing, the leading digital asset is trading at $91,855, registering a 1.5% increase in the 24-hour period 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 almost 3% in the same time period.
Featured image of DALL-E, chart from TradingView.com
