According to CoinDesk, crypto fund Off The Chain Capital has invested over a million dollars in medical data company OneMedNet to facilitate the purchase of bitcoin. The fund aims to outperform bitcoin's price by acquiring it at a discount through strategic investments like this one.

OneMedNet (ONMD) recently raised $4.6 million in a private placement, allocating $1.8 million of the proceeds to buy bitcoin. Off The Chain Capital, which has connections to Bloq Chairman Matthew Roszak and Fortress founder Rob Kauffman, participated in this investment by purchasing a mix of shares and warrants in ONMD. OneMedNet's stock has plummeted over 90% since it went public via a SPAC deal late last year.

Brian Dixon, CEO of Off The Chain Capital, expressed optimism about the investment's potential to outperform bitcoin. He emphasized the importance of public companies reinvesting cash into bitcoin rather than traditional assets like real estate, stocks, or bonds to maximize shareholder value. Dixon stated, "I think more and more public companies are going to wake up to the fact that if you don’t have bitcoin on your balance sheet, you’re not being intelligent as a fiduciary to that additional cash flow you have in terms of where you allocate this part of your treasury reserve strategy."

Off The Chain Capital and OneMedNet's strategy mirrors that of Michael Saylor's MicroStrategy (MSTR), which has seen its stock price outperform bitcoin since it began adding the cryptocurrency to its balance sheet in August 2020. Other publicly traded companies, such as U.S.-listed Semler Scientific and Japan's Metaplanet, are also adopting similar approaches.