One Mednet, a publicly traded company that raised funds and bought bitcoins — same strategy as Metaplanet (shared)

ONMD (ONMD: OneMednet) announced at the end of last month that it had raised 4.6 million dollars (about 0.66 billion yen, 1 dollar = 145 yen conversion) through a third-party allotment of shares, of which 1.8 million dollars (about 0.26 billion yen) were used to purchase Bitcoin (BTC).

Among the investors, Off The Chain Capital (Off The Chain Capital) is also listed. The company is a crypto asset (virtual currency) investment fund with connections to Bloq (Bloq) chairman Matthew Roszak (Matthew Roszak) and Fortress (Fortress) founder Rob Kauffman (Rob Kauffman), and purchased a combination of OneMednet shares and warrants.

Since OneMednet was listed in an SPAC (Special Acquisition Purpose Company) transaction at the end of last year, its stock price has fallen by over 90%.

Off-the-Chain Capital CEO Brian Dixon (Brian Dixon) told CoinDesk that “if it goes as intended, it will be an opportunity to outperform Bitcoin,” and “we are searching for such discounts and value opportunities in light of our goals as investors, and we are working hard to outperform Bitcoin.”

Bitcoin over real estate, stocks, and bonds
Mr. Dixon believes that in order for listed companies to maximize shareholder value, it is extremely important to reinvest part of their cash into bitcoins rather than real estate, stocks, or bonds.

“I think more and more listed companies will wake up to this fact. It is a fact that if bitcoins are not recorded on the balance sheet, they lack intelligence as a fiduciary for additional cash flows in terms of how to allocate this part as part of a strategy relating to financial reserves,” he said.

In this respect, Off the Chain Capital and One Mednet have made similar claims to Michael Saylor (Michael Saylor), who leads MicroStrategy (MSTR: MicroStrategy). Since the company began putting crypto assets on its balance sheet in 2020/8, stock prices have outperformed Bitcoin returns.

Semler Scientific (Semler Scientific), which is listed in the US, and Japanese Metaplanet are also listed companies pursuing similar strategies.