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29/05/24
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Semler Scientific Announces Adoption of BTC as Treasury Reserve
On May 28, Semler Scientific Inc., which develops and markets technology products and services to healthcare providers towards fighting chronic diseases, announced its adoption of bitcoin as its primary treasury reserve asset.
The firm bought 581 BTC at $40 million, including fees and expenses. The decision to adopt was made after spending significant time examining potential uses of cash and several alternatives. The board and management decided that using their excess cash to hold BTC would be the best.
Semler Scientific is using Bitcoin as its main treasury holding on an ongoing basis, based on market conditions and potential cash needs. The firm said it prefers BTC to gold due to its architectural resilience and the possibility of BTC “to generate outsize returns as it gains increasing acceptance as digital gold.”
“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment. Bitcoin is now a major asset class with more than $1 trillion of market value. 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,” said Eric Semler, Semler Scientific’s chairman.
Further, the firm was motivated as more people continue to accept BTC worldwide and BTC is now institutionalized. Semler Scientific cited the approval of spot BTC ETFs by the U.S. SEC in January, as well as inflows of over $13B recorded, with almost one thousand institutions investing in them.
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