Digital Products
- Semler Scientific (SMLR) announced that it will adopt Bitcoin as its primary reserve asset after purchasing 581 BTC, worth $40 million including fees and expenses.
- SMLR sees Bitcoin as a reliable store of value and believes the cryptocurrency has the potential to deliver higher returns than gold if it gains greater mainstream adoption.
- The market reacted positively to the news, with Semler Scientific shares rising 24%.
Semler Scientific is a publicly traded company that makes healthcare products that help manage chronic health conditions. Announced I put everything into Bitcoin.
The company said in a press release on Tuesday that its board of directors had decided to “adopt Bitcoin as its primary reserve asset,” adding that it had purchased 581 BTC for a total purchase price of $40 million, including fees and expenses.
The market reacted positively to the news, with Semler Scientific’s stock price rising. More than 24% On that day.
Related: Bitcoin-focused MicroStrategy Included in MSCI World Index with $13 Billion Bitcoin Holdings
Semler Scientific Claims Bitcoin is Better than Gold
Semler Scientific Chairman Eric Semler explained why his company is investing in Bitcoin, believing it to be a reliable store of value and highlighting the benefits of its scarcity and security.
Our Bitcoin Treasury Strategy and Bitcoin purchases underscore our belief that Bitcoin is a reliable store of value and an attractive investment. Bitcoin is currently a leading asset class with a market cap of over $1 trillion. We believe that Bitcoin has unique characteristics as a scarce and finite asset that can act as a reasonable inflation hedge and safe haven during times of global volatility.
Eric Semler, Chairman, Semler Scientific
Semler compared Bitcoin to gold, saying that if Bitcoin continues to gain mainstream acceptance, it could potentially deliver higher profits than the precious metal.
We also believe that the robustness of its digital structure makes Bitcoin superior to gold, which has a market value roughly 10 times that of Bitcoin. Given the difference in value between gold and Bitcoin, we believe that Bitcoin will become increasingly accepted as digital gold, which could generate significant profits.
Eric Semler, Chairman, Semler Scientific
Semler also said that the approval of Bitcoin ETFs influenced the company’s decision, explaining, “We are inspired by the growing global acceptance and ‘institutionalization’ of Bitcoin, best exemplified by the Securities and Exchange Commission’s approval of 11 Bitcoin exchange-traded funds in January 2024.”
Corporate BTC accumulation on the rise
More and more companies are investing in Bitcoin following the lead of corporate Bitcoin pioneer Michael Saylor’s MicroStrategy.
Related: Japanese company Metaplanet copies MicroStrategy’s BTC buying strategy, shares soar sevenfold
Recently, Japan’s Metaplanet has become known as “Asia’s Microstrategy” due to its aggressive strategy. Bitcoin Accumulation The strategy has seemed to work for Metaplanet over the past few months: The company’s shares have risen more than 350% since the start of the year, and trading in Metaplanet’s shares has been halted several times this year as prices have risen so quickly, a rule introduced by the Tokyo Stock Exchange to limit volatility in small-cap stocks.
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“Semler Scientific, a publicly traded company that makes healthcare products to help manage chronic health conditions, has announced that it is investing fully in Bitcoin. In a press release…”
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Source link: https://cryptonews.com.au/news/healthcare-firm-semler-scientific-buys-40m-btc-adopts-bitcoin-as-primary-treasury-asset-121209/
