Medical Stock Plummets 15% after Unveiling $1 Billion Bitcoin Reserve Strategy

A Singapore-based healthcare provider learned a hard lesson about Wall Street’s hesitation toward crypto investments when it revealed plans to acquire a billion dollars worth of bitcoin. Basel Medical Group’s stock prices tumbled approximately 15% following the announcement of its proposed Bitcoin investment via a share swap deal with institutional investors. The company aims to bolster its financial flexibility for acquisitions by establishing a diversified Bitcoin reserve. However, this move has sparked investor skepticism and led to sharp declines in the BMGL ticker price.