Cosmos Health (NASDAQ: COSM), a healthcare company that sells drugs and medical equipment in Europe, announced on Monday that it plans to add Bitcoin and Ethereum to its balance sheet. The company also revealed it is working on enabling clients to make payments in cryptocurrencies. CEO Greg Siokas stated that Bitcoin and Ethereum are seen as potential hedges against inflation and currency devaluation, as well as diversification tools with significant upside. Cosmos Health indicated it may consider adding other cryptocurrencies and assets in the future, though it did not disclose the amount it plans to invest or whether it has already started purchasing Bitcoin and Ethereum. The company’s stock rose by over 17%, reaching $0.73 per share.

Cosmos Health joins other publicly traded companies, like MicroStrategy, which has been adding Bitcoin to its balance sheet since August 2020. MicroStrategy now holds over 331,000 Bitcoins, worth more than $30 billion, and allows investors to gain exposure to Bitcoin through its shares. Recently, Microsoft also made headlines when it disclosed plans to ask shareholders at its upcoming meeting whether the company should buy Bitcoin for its own treasury. However, Microsoft’s management advised against the proposal, stating that it already considers the topic carefully. $#Contentos #COSSocialFiRevolution #COS