Medical data company OneMedNet announced the completion of a $4.60 million private placement, of which $1.80 million will be used to purchase bitcoin. It is reported that institutional investors in this round of financing include affiliates of Off the Chain Capital and Discovery Capital Management. OneMedNet's share price has fallen by more than 90% since going public through SPAC trading late last year. Brian Dixon, CEO of Off The Chain Capital, said it is crucial for public companies to reinvest some of their cash in bitcoin rather than real estate, stocks or bonds in order to maximize shareholder value.