Semler Scientific Company (Nasdaq: SMLR), known for its healthcare solutions to combat chronic disease, has announced a major shift in its treasury strategy. The company's Board of Directors approved Bitcoin as a primary Treasury reserve asset, along with a significant purchase of 581 Bitcoin for a total of $40 million, including fees and expenses.
JUST IN: Healthcare products manufacturer Semler Scientific buys 581 #Bitcoin For 40 million dollars 👀 pic.twitter.com/zYsVgN19gL
– Bitcoin Magazine (@BitcoinMagazine) May 28, 2024
“Our Bitcoin treasury and buy-Bitcoin strategy underscores our belief that Bitcoin is a reliable store of value and a compelling investment,” said Eric Semler, President of Semler Scientific. “Bitcoin is now a major asset class with a market capitalization of more than $1 trillion. We believe it has unique characteristics as a rare and limited asset that can serve as a reasonable hedge against inflation and a safe haven amid global instability. We also believe that Bitcoin, the digital currency, is architecturally resilient.” This makes it better than gold, which has a market capitalization of about 10 times that of Bitcoin, and given the gap in value between gold and Bitcoin, we believe Bitcoin has the potential to deliver significant returns as it gains increasing acceptance as digital gold.”
despite of this A strategic financial move, Semler Scientific said it remains committed to its core healthcare mission of delivering innovative technologies as solutions to transform healthcare management of chronic diseases and provide providers with the opportunity to reduce costs and improve long-term patient outcomes. The company will also continue to focus on its flagship product, QuantaFlo®, a point-of-care test for peripheral arterial disease, while seeking expanded FDA approval for other cardiovascular conditions.
“Furthermore, we are excited about the growing global acceptance and ‘institutionalization’ of Bitcoin – most recently reflected in the SEC’s January 2024 approval of 11 Bitcoin exchange-traded funds,” Mr. Semler continued. “These funds have reported net inflows of more than $13 billion, with investments from nearly 1,000 institutions, including global banks, pensions, endowments and registered investment advisors. It is estimated that more than 10% of all bitcoins are now owned by Before institutions.”
Semler Scientific's board of directors and senior management shared that they have carefully studied the various uses of excess cash and have concluded that holding Bitcoin is the best strategy. For more information about Semler Scientific, visit their website here.