Bitcoin ETF

Bitcoin

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On Friday, July 26, OneMedNet (NASDAQ: ONM) stock price surged by 22% after the company revealed a significant $1.8 million investment in Bitcoin, the world’s largest cryptocurrency. The announcement was made during the ongoing Bitcoin Conference, where industry leaders are exploring opportunities to gain exposure to the asset class. 
<h2 id="onemednet-joins-other-corporates-in-bitcoin-exposure">OneMedNet Joins Other Corporates in Bitcoin Exposure</h2> 
A large number of public-listed corporates are adopting the <a href="https://coingape.com/bitcoin-price-to-hit-13m-michael-saylor-predicts-amid-btc-rally/" target="_blank" rel="noopener">MicroStrategy</a> playbook for holding Bitcoins on their balance sheets. With the USD losing its strength, corporates are finding solace in Bitcoin investments seeing it as a store of value and preventing any capital erosion. 
On Friday, the OneMedNet stock surged all the way to $1.29 soon after the Bitcoin exposure announcement. However, it settled for 0.99 during the closing bell on Wall Street. 
<blockquote class="twitter-tweet"> 
 JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> US Public company OneMedNet buys $1.8 million worth of <a rel="nofollow" href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a rel="nofollow" href="https://t.co/rsUdYvsaIL">pic.twitter.com/rsUdYvsaIL</a> 
 — Bitcoin Magazine (@BitcoinMagazine) <a rel="nofollow" href="https://twitter.com/BitcoinMagazine/status/1816916928331677768?ref_src=twsrc%5Etfw">July 26, 2024</a>
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On Friday, another publicly listed firm <a href="https://coingape.com/semler-scientific-to-acquire-more-bitcoin-btc-with-stock-sales/" target="_blank" rel="noopener">Semler Scientific</a> announced the addition of more Bitcoins to its balance sheet. The company has acquired nearly 828 Bitcoin for $57 million while deploying 90% of its cash reserves into Bitcoin. The Semler Scientific (NASDAQ: SMLR) stock was up by 4% during Friday’s trading session. 
Also Read: <a href="https://coingape.com/peter-schiff-slams-microstrategy-michael-saylor-over-bitcoin-pyramid-scheme/" target="_blank" rel="noopener">Peter Schiff Slams MicroStrategy’s Michael Saylor Over “Bitcoin Pyramid Scheme”</a> 
<h2 id="state-pension-funds-gain-exposure-to-bitcoin-etf">State Pension Funds Gain Exposure to Bitcoin ETF</h2> 
Seeing the strength of Bitcoin in the global economy, lawmakers are increasingly leaning towards the asset class and seeking exposure to the newly launched Bitcoin ETFs for state pension funds. 
A day before, Jersey City mayor Steven Fulop said that they would partially allocate the state pension funds to Bitcoin ETFs. Joining the bandwagon, the <a href="https://coingape.com/michigan-pension-fund-buys-6-6m-in-ark-bitcoin-etf/" target="_blank" rel="noopener">Michigan pension fund</a> purchases a staggering $6.6 million in shares of the Ark Bitcoin ETF (ARKB). Previously, Winconsin has also disclosed a $160 million investment in Bitcoin ETFs. 
The <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener">spot Bitcoin ETFs</a> have delivered a solid performance this month of July with staggering inflows led by BlackRock. On Friday, the Bitcoin ETFs saw inflows of $51.8 million with Bitwise (BITB) leading the show. 
The Bitcoin price is also showing great strength surging by another 1.5% and moving past $68,000. Analysts predict BTC will surge further to $71,500 before deciding on the next move. 
<blockquote class="twitter-tweet"> 
 <a rel="nofollow" href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> 
 The retest was successful 
 Bitcoin has confirmed $65,000 as support 
 Price will now continue to occupy the $65000-$71500 region (red)<a rel="nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a rel="nofollow" href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a rel="nofollow" href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a rel="nofollow" href="https://t.co/k15SAxaizI">https://t.co/k15SAxaizI</a> <a rel="nofollow" href="https://t.co/v1UBMtj0zk">pic.twitter.com/v1UBMtj0zk</a> 
 — Rekt Capital (@rektcapital) <a rel="nofollow" href="https://twitter.com/rektcapital/status/1816749734268149839?ref_src=twsrc%5Etfw">July 26, 2024</a>
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Also Read: <a href="https://coingape.com/jersey-city-to-adopt-bitcoin-etfs-in-pension-fund-allocation/" target="_blank" rel="noopener">Jersey City To Adopt Bitcoin ETFs in Pension Fund Allocation</a> 
The post <a href="https://coingape.com/onemednet-bitcoin-exposure-stock-jumps-21/">OneMedNet Share Price Jumps 22% After $1.8 Million Bitcoin Exposure</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

OneMedNet Share Price Jumps 22% After $1.8 Million Bitcoin Exposure

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