P2E Gamefi

Semler Scientific Embraces Bitcoin as Main Treasury Reserve Asset, Shares Skyrocket by 37%

Semler Scientific, a lesser-known medical technology company, recently made headlines by announcing that it has added bitcoin to its primary treasury reserve assets. The company, which specializes in products for detecting peripheral arterial disease, revealed that it had acquired 581 bitcoins for around $40 million. This strategic move caused a significant 37% surge in Semler’s stock price, even as the price of bitcoin itself dipped by approximately 2%.

Semler Scientific’s chairman, Eric Semler, expressed strong confidence in bitcoin, highlighting its qualities as a reliable store of value and an attractive investment. He emphasized the potential of bitcoin as an inflation hedge and a safe haven in times of global instability. This decision aligns Semler with MicroStrategy, another company that has been aggressively accumulating bitcoin since 2020.

Although Semler Scientific remains dedicated to its healthcare mission, the company sees holding bitcoin as the best strategy for its excess cash. The growing institutional acceptance of bitcoin, exemplified by the recent approval of bitcoin exchange-traded funds by the Securities and Exchange Commission, has further supported Semler’s decision. Notably, over $13 billion in net inflows have been reported by these funds, with investments from various institutions, signaling a trend of mainstream adoption.

Overall, Semler Scientific’s move to adopt bitcoin as a treasury reserve asset underscores the increasing relevance of cryptocurrencies in traditional financial strategies.

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Company

Get Latest Updates!

    Get all the latest updates on the crypto scene, including access to exclusive airdrops.

    cryptochronicle.xyz @2024. All Rights Reserved.