In the aftermath of Donald Trump’s election victory on November 5, there has been a significant rise in interest in Bitcoin (BTC) and other digital currencies. This growing curiosity is encouraging both global corporations and governments to consider incorporating leading cryptocurrencies into their treasury reserves, signifying a wider acceptance of digital currencies, especially within the United States.
Utilizing Bitcoin and Ethereum as Inflation Hedges
Recently, Cosmos International Healthcare Group announced its strategic move to include Bitcoin and Ethereum (ETH) in its treasury reserve assets. This decision is part of their progressive investment strategy, coinciding with their recent acquisition of Cloudscreen, a cutting-edge platform utilizing artificial intelligence for drug repurposing. By integrating Bitcoin and Ethereum, alongside other potential cryptocurrencies and blockchain-related assets, Cosmos aims to diversify its financial portfolio and leverage the increasing global adoption of digital currencies.
Cosmos is also preparing to accommodate customers interested in cryptocurrency payments. Greg Siokas, the CEO of Cosmos Health, emphasized the company’s dedication to innovation, stating:
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“Cosmos is a dynamic, adaptable, and forward-thinking company. We believe this strategy will differentiate us significantly by investing in the new digital era. Alongside our AI capabilities, we are now integrating crypto assets and continuously seeking additional future-oriented investments to benefit our stakeholders.”
Siokas pointed out that Bitcoin and Ethereum could potentially serve as hedges against inflation and currency devaluation, while also acting as diversification tools with significant growth prospects. He is optimistic about building a substantial reserve in these digital assets.
Increasing Acceptance of Digital Currencies
Similarly, Semler Scientific, a firm focused on developing technology solutions for healthcare providers, has also made waves with its Bitcoin transactions. Between November 6 and November 15, Semler revealed it had purchased 215 BTC for approximately $17.7 million, averaging a price of $82,502 per Bitcoin, including fees. By November 15, Semler held 1,273 BTC, acquired for a total cost of $88.7 million, at an average price of $69,682 per Bitcoin.
Semler Scientific uses Bitcoin Yield as a crucial performance metric to assess 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 the second quarter of 2024, the yield has increased to 37.3%. Eric Semler, the chairman of Semler Scientific, commented:
“We have achieved a BTC Yield of 37.3% since implementing our bitcoin treasury strategy. We believe this illustrates significant bitcoin appreciation for our stakeholders.”
These companies exemplify a growing trend among businesses and institutions to embrace digital assets, acknowledging their potential as valuable elements of a diversified investment strategy.
As per the 1D chart, BTC’s price is showing an upward trend. At the time of writing, the leading digital asset is trading at $91,855, marking a 1.5% rise over the past 24 hours and edging closer to its all-time high of $93,300 reached last week. In contrast, Ethereum is trading at $3,180, also experiencing an increase of nearly 3% in the same period.
These developments highlight the increasing momentum and acceptance of cryptocurrencies as viable financial instruments, as more entities explore their potential to enhance investment portfolios and hedge against economic uncertainties.
