Healthcare company Semler Scientific buys $40 million worth of Bitcoin and adopts it as a treasury reserve asset

Semler Scientific, Inc. (Nasdaq: SMLR), known for its medical solutions to combat chronic disease, announced a significant change in its financial strategy. The company’s board adopted Bitcoin as its primary treasury reserve asset while purchasing 581 Bitcoins totaling $40 million including fees and expenses.

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“Our Bitcoin treasury strategy and Bitcoin purchases underscore our belief that Bitcoin is a reliable store of value and an attractive investment,” said Eric Semler, Chairman of Semler Scientific. “Bitcoin is now a major asset class with a market value of over $1 trillion. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.” Given the difference in value between gold and Bitcoin, which has a market value roughly 10 times that of Bitcoin due to its digital, structural resilience, Bitcoin’s growing acceptance as digital gold is enormous. “I believe there is potential to generate revenue.”

Despite these strategic and financial moves, Semler Scientific remains committed to its core mission in healthcare: delivering innovative technologies with solutions that transform the healthcare management of chronic diseases and provide providers with opportunities to reduce costs and improve long-term patient outcomes. He said he was committed. The company will also continue to focus on its flagship product, QuantaFlo®, a point-of-care diagnostic test for peripheral arterial disease, while seeking expanded FDA clearance for other cardiovascular diseases.

“Furthermore, we are encouraged by the increasing global acceptance and ‘institutionalization’ of Bitcoin, most recently with the Securities and Exchange Commission’s approval of 11 Bitcoin exchange-traded funds in January 2024. reflected,” Mr. Semler continued. “The fund has received investments from nearly 1,000 institutions, including global banks, pensions, endowments and registered investment advisers, and has reported net inflows of more than $13 billion. More than 10% of all Bitcoin is currently held by institutions. It is presumed that it is.”

Semler Scientific’s Board of Directors and senior management carefully considered various uses for the excess cash and concluded that holding Bitcoin was the best strategy. For more information about Semler Scientific, visit their website here.