As Bitcoin and cryptocurrency adoption increases day by day, another company announced that it has added Bitcoin (BTC) and Ethereum (ETH) to its balance sheet.
Accordingly, Cosmos Health, a giant company listed on Nasdaq, announced that it has added Bitcoin and Ethereum to its balance sheet.
In a statement, the company said it plans to purchase Bitcoin and Ethereum as a hedge against inflation.
The company noted that adding Bitcoin and Ethereum, as well as potentially other cryptocurrencies, would help diversify its balance sheet and see significant upside as these assets become increasingly adopted globally.
The company also added that in addition to holding Bitcoin and Ethereum as treasury reserve assets, it is also working to meet the needs of its customers who want to pay with cryptocurrencies.
“We view select cryptocurrencies like Bitcoin and Ethereum not only as hedges against inflation and currency devaluation, but also as diversification tools that offer significant upside potential,” Cosmos Health CEO Greg Siokas said of the BTC and ETH purchases.
*This is not investment advice.