Semler Scientific Inc., a developer and provider of healthcare technology products,announced today a major shift in its financial strategy.
Semler Scientific’s board of directors has adopted Bitcoin (BTC) as its primary treasury reserve asset, a vote of confidence in the digital currency’s long-term value and potential growth.
As part of this new strategy, the company has invested in 581 bitcoins for $40 million, fees and expenses inclusive. Eric Semler, chairman of the board, pointed out that bitcoin is an asset class with a market value greater than $1 trillion, which has unique properties as a scarce, finite asset that can be an inflation hedge and safe haven in times of global instability.
“Bitcoin’s digital resilience and institutionalisation make it an attractive alternative to gold,”
Semler stated.
The evidence he cited includes 11 bitcoin ETFs recently approved by the Securities and Exchange Commission, which have attracted over $13 billion in net inflows from nearly 1,000 institutions.
The board and senior management carefully considered the best use of excess cash and determined that holding Bitcoin would offer the best returns and the most secure financial future for the company.
While now focusing on bitcoin, Semler Scientific is committed to its core business of providing innovative medical products and services, continuing to market its flagship product, QuantaFlo, a rapid test for peripheral arterial disease, and pursuing expanded FDA clearances for broader cardiovascular applications.
Semler Scientific’s pivot to Bitcoin is part of a broader trend among corporations seeking alternative stores of value amid economic uncertainty. This move follows similar strategies by other high-profile companies like Tesla and MicroStrategy, which have also made substantial Bitcoin investments.
Bitcoin is trading today at $68,040.52 with a 24-hour trading volume of $32,334,304,770.
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