Semler Scientific adds 581 BTC worth $40 million to its Primary Treasury Reserve Asset

Healthcare company Semler Scientific announced today that it has adopted bitcoin (BTC) as its primary treasury reserve asset and purchased 581 bitcoins for an aggregate amount of $40 million, inclusive of fees and expenses.

According to a statement released by the company, Eric Semler, Semler Scientific's chairman, said Semler Scientific's bitcoin treasury strategy and acquisition of 581 BTC affirm the company's belief that bitcoin is a reliable store of value and a compelling investment.

Semler stated that bitcoin with a market value of over $1 trillion, bitcoin has emerged as a significant asset class. We believe it has unique characteristics that make it a good hedge against inflation and due to bitcoin digital and architectural resilience, it is a more preferable option compared to gold. 

Our company is inspired by the increasing global acceptance and 'institutionalization' of bitcoin, which was most recently demonstrated by the Securities and Exchange Commission's approval of 11 bitcoin exchange-traded funds in January 2024. These funds have reported a netflow of more than $13 billion, with investments from nearly 1,000 institutions, including global banks, pensions, endowments, and registered investment advisors. Institutions currently hold an estimated 10% or more of all bitcoins," added Semler.

Alongside its bitcoin treasury strategy, Semler Scientific will keep its primary medical products and services front and center. 

CEO of Semler Scientific, Doug Murphy-Chutorian, MD, stated, "In addition to Semler Scientific's bitcoin treasury strategy, we will continue to focus on our core medical products and services. We remain dedicated to our goal of operating a growing and profitable healthcare company for our customers.

Semler Scientific intends to assess its use of excess cash proactively as long as it can continue to generate revenue and free cash flow from QuantaFlo sales. As long as the market remains favorable and Semler Scientific's cash requirements are met, Bitcoin will continue to be the company's primary treasury holding, the statement added.

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