Semler Scientific gave 40 million dollars for Bitcoin investment

A pioneer in healthcare technology, Semler Scientific has demonstrated its forward-thinking approach by adopting Bitcoin as its primary treasury asset.

The company's decision to buy 581 bitcoins for $40 million shows its confidence in digital currencies, including payments.

Semler sees Bitcoin as digital gold

Semler Scientific Chairman Eric Semler highlighted Bitcoin's digital resilience, making it preferable to gold, which has ten times the market value of BTC. He believes that the oldest cryptocurrency can bring huge profits when it is accepted.

“Our Bitcoin Treasury strategy and acquisitions underscore our belief that BTC is a safe store of value and a compelling investment. Bitcoin's unique characteristics as a rare and limited asset make it a reasonable inflation hedge and a safe haven amid global uncertainty, Semler said.

Investing in BTC is consistent with the company's active financial management. As Semler Scientific generates revenue and free cash flow from QuantaFlo® sales, it will continue to evaluate the best use of excess cash. Bitcoin will be the primary treasury holding based on market conditions and the company's expected funding needs.

Read more: Bitcoin price prediction for 2024/2025/2030

The company indicated that the decision follows the increase in institutional acceptance of Bitcoin. This trend includes the US regulator's approval of 11 BTC exchange-traded funds (ETFs) in January 2024. American ETFs report more than $13 billion in net income, with investments from nearly 1,000 institutions, including international banks, pensions, endowments and registered investments. Counselors.

More than 10% of all Bitcoins are now held by institutions. Bitcoin ETFs have reached a milestone of holding more than 1 million BTC, which is about 5% of the total supply of Bitcoin.

Semler Scientific's announcement of its Bitcoin investment immediately sent the company's stock soaring. Tuesday saw a 27 percent increase in early U.S. trading hours. This significant growth, coupled with the company's strong financial performance, reflects a positive outlook for Semler Scientific.

Other companies buying bitcoin have also seen stock effects. Metaplanet Inc., known as the “Japanese Microstrategy,” was the best-performing company on Japan's stock market last week. Metaplanet shares rose 50%, from ¥41 on Monday to close to ¥90, marking two consecutive gains. Recently, the company announced plans to buy another ¥250 million worth of Bitcoin.