Following President-elect Donald Trump’s victory on November 5, there has been a notable surge of interest in Bitcoin (BTC) and other digital assets. This trend is prompting global businesses and governments to consider integrating major cryptocurrencies in their cash 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
Monday, International Healthcare Group Cosmos announcement its decision to incorporate Bitcoin and Ethereum (ETH) into its treasury reserve assets, as part of its “forward-thinking” investment approach. The move follows the company’s recent acquisition of Cloudscreen, an artificial intelligence-based platform for drug reuse.
By adding Bitcoin and Ethereum, as well as 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.
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, saying:
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 integrating 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 devaluationwhile also serving as diversification tools with considerable upside potential. Siokas looks forward to building a significant reserve of these digital assets.
Growing acceptance of cryptocurrencies
Meanwhile, 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 disclosed he acquired 215 BTC for approximately $17.7 million, averaging $82,502 per Bitcoin including fees. As of November 15, Semler held 1,273 BTC, acquired for an aggregate price of $88.7 million, or 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 yield was reported at 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, noted:
We have achieved a BTC return of 37.3% since adopting our Bitcoin treasury strategy. We believe this demonstrates a substantial increase in bitcoin for our stakeholders.
Both companies demonstrate a growing trend among businesses and institutions to embrace digital assets, recognizing their potential as valuable elements of a diversified investment strategy.
At the time of writing, the leading digital asset is trading at $91,855, registering a 1.5% increase over a 24-hour period and closing in on its all-time high of $93,300 reached last week. On the other hand, Ethereum is trading at $3,180, also up almost 3% over the same period.
Featured image of DALL-E, chart by TradingView.com
