TechFlow news — Medical technology company OneMedNet (ONMD) has announced raising $4.6 million through a third-party stock placement, with $1.8 million of the proceeds allocated to purchase bitcoin (BTC).
Investors participating in this funding round include cryptocurrency investment fund Off The Chain Capital, associated with Matthew Roszak, chairman of Bloq, and Rob Kauffman, founder of Fortress. Brian Dixon, CEO of Off The Chain Capital, stated that the move aims to outperform bitcoin itself, while emphasizing the importance of public companies reinvesting part of their cash reserves into bitcoin rather than traditional assets such as real estate, stocks, or bonds. Dixon believes an increasing number of public companies will recognize the necessity of holding bitcoin on their balance sheets.
Notably, since going public via SPAC at the end of last year, OneMedNet's stock price has dropped more than 90%.
