Bitcoin

The board of directors of Semler Scientific, Inc., a pioneer in healthcare technology for combating chronic diseases, <a href="https://www.prnewswire.com/news-releases/semler-scientific-announces-bitcoin-treasury-strategy-302156715.html" target="_blank" rel="noreferrer noopener">said</a> today that bitcoin will be the company’s main treasury reserve asset. Furthermore, Semler Scientific declared that it has paid $40 million in total, including fees and expenses, for 581 bitcoins. 
Eric Semler, Semler Scientific’s chairman, stated, “Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment.” 
Additionally, he said that with its current market capitalization of over $1 trillion, bitcoin is a significant asset class with special qualities as a limited, scarce asset that can act as a safe haven in times of political unrest and inflation.&nbsp; 
The company believes Bitcoin’s digital resilience makes it preferable to gold, which is valued at roughly 10 times more. Given this value gap, Bitcoin has the potential for significant returns as it becomes accepted as digital gold. 
Mr. Semler expressed enthusiasm about Bitcoin’s growing global acceptance and institutionalization, noting the <a href="https://www.cryptotimes.io/2024/01/11/finally-sec-approves-first-spot-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">SEC’s approval of Bitcoin ETFs</a>. These funds have garnered over $13 billion from nearly 1,000 institutions, including global banks, pensions, endowments, and registered investment advisors. It’s estimated that institutions now hold over 10% of all Bitcoins. 
The board and senior management of Semler Scientific have looked into a number of possible uses for capital, including acquisitions. “After studying various alternatives, we decided that holding bitcoin would be the best use of our excess cash,” Mr. Semler said.&nbsp; 
Semler Scientific reaffirms its focus on core medical products alongside its bitcoin treasury strategy. CEO Doug Murphy-Chutorian emphasizes their dedication to growth and profitability, prioritizing sales of QuantaFlo for peripheral arterial disease testing while pursuing FDA clearance for expanded use in diagnosing cardiovascular diseases. 
Semler Scientific will proactively assess how it uses surplus cash as long as it continues to produce revenue and free cash flow from QuantaFlo sales. Depending on the state of the market and Semler Scientific’s projected cash needs, Bitcoin will continue to be the company’s primary treasury holding.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/02/21/how-to-buy-bitcoin/" target="_blank" rel="noreferrer noopener">How to Buy Bitcoin for the First Time: A Beginner’s Guide</a> 
</blockquote>

Semler Scientific Buys $40M Worth of Bitcoin for Treasury

The Crypto Times

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