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Semler Scientific, Inc. (Nasdaq: SMLR), known for its healthcare solutions to combat chronic diseases, has announced a significant change to its treasury strategy. The company's board of directors has adopted bitcoin as its primary treasury reserve asset, along with a substantial purchase of 581 Bitcoins for a total amount of $40 million, including fees and expenses.
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JUST IN: Healthcare products maker Semler Scientific buys 581 twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin for 40 million dollars pic.twitter.com/zYsVgN19gL
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1795452290972754321?ref_src=twsrc%5Etfw”>May 28, 2024
“Our bitcoin treasury strategy and bitcoin purchasing underscore our belief that bitcoin is a reliable store of value and a compelling investment,” said Semler Chief Scientific Officer Eric Semler. “bitcoin is now a major asset class with over $1 trillion in market value. We believe it has unique characteristics as a scarce, finite asset that can serve as a reasonable hedge against inflation and a safe haven amidst global instability. We also believe that it is digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin. Given the value gap between gold and bitcoin, we believe that bitcoin has the potential. to generate enormous returns as it gains increasing acceptance as digital gold.”
Although bitcoin-treasury-strategy-302156715.html”>this strategic financial move, Semler Scientific said it remains committed to its core healthcare mission of delivering innovative technologies as solutions to transform chronic disease healthcare management and offer providers the opportunity to reduce costs and improve outcomes. long-term patients. 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 clearance for other cardiovascular conditions.
“Furthermore, we are encouraged by the growing global acceptance and 'institutionalization' of bitcoin, most recently reflected in the Securities and Exchange Commission's approval in January 2024 of 11 bitcoin exchange-traded funds,” Semler continued. “These funds have reported more than $13 billion of net inflows, 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 in hands of institutions”.
Semler Scientific's board of directors and senior management shared that they had carefully considered various uses for excess cash and concluded that holding bitcoin is the best strategy. For more information about Semler Scientific, visit their website. here.
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