2024

Bitcoin

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Semler Scientific ($SMLR) disclosed the purchase of 581 bitcoins for its treasury, sending its stock price higher by 25% in early U.S. trading hours Tuesday. 
According to its most recent <a href="https://ir.semlerscientific.com/news-releases/news-release-details/semler-scientificr-reports-first-quarter-2024-financial-results" data-type="link" data-id="https://ir.semlerscientific.com/news-releases/news-release-details/semler-scientificr-reports-first-quarter-2024-financial-results" target="_blank" rel="">earnings statement</a>, the company, which had a market cap of less than $200 million before this morning’s price rise, had cash and cash equivalents of $62.9 million as of the end of the first quarter. It had first-quarter revenue of $15.9 million and operating cash flow of $6.1 million. 
According to this&nbsp;<a href="https://ir.semlerscientific.com/news-releases/news-release-details/semler-scientificr-announces-bitcoin-treasury-strategy" target="_blank" rel="">morning’s press release</a>, Semler purchased 581 bitcoins (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="">BTC</a>) for $40 million, suggesting an average price of about $68,850 per token. 
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 Another company has added Bitcoin to their reserve – this time healthcare giant Semler Scientific <a href="https://twitter.com/search?q=%24SMLR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$SMLR</a> has adopted <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Bitcoin</a> as its primary treasury reserve asset by purchasing $40 million worth of the Bitcoin. Following in Microstrategies footprints? The stock goes up 22% on… <a href="https://t.co/V7zsazKwFj" target="_blank" rel="">pic.twitter.com/V7zsazKwFj</a>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1795459978183987651?ref_src=twsrc%5Etfw" target="_blank" rel="">May 28, 2024</a>
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 You might also like: <a href="https://crypto.news/bitcoin-dips-below-68k-as-mt-gox-moves-billions-to-unknown-address/" rel=""> Bitcoin dips below $68k as Mt. Gox moves billions to unknown address </a> 
“Bitcoin is now a major asset class with more than $1 trillion of market value,” said company Chairman Eric Semler. “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. We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin.” 
Today’s 25% gain has brought the stock to just a 2% decline year-over-year. 
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 3-day 1-minute chart of $SMLR from TradingView
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 Read more: <a href="https://crypto.news/spot-btc-etfs-recorded-0-inflows-bitcoin-price-drops/" rel=""> Spot BTC ETFs recorded $0 inflows, Bitcoin price drops </a>

Semler Scientific unveils strategy for Bitcoin Treasury

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