Semler Scientific buys 581 Bitcoins
Semler Scientific, Inc., a medical software company, recently announced that it has purchased 581 bitcoins and invested around $40 million as part of its new bitcoin treasury strategy. This move has been compared to the strategy of MicroStrategy, a publicly traded company that is heavily integrating bitcoin into its treasury.
Eric Semler expresses admiration for MicroStrategy
Eric Semler, chairman of Semler Scientific, expressed admiration for MicroStrategy's approach of using Bitcoin to turn its treasury into a growth asset, describing it as "a brilliant move." However, he stressed that Semler Scientific plans to adopt Bitcoin more cautiously. The company will continue to produce high-quality medical software while integrating Bitcoin as its primary treasury asset.
Semler sees Bitcoin as a superior alternative to gold
Semler is a staunch supporter of Bitcoin and sees it as a superior alternative to gold. He emphasizes the scarcity, technical robustness and the growing interest in Bitcoin among younger investors. Although Bitcoin's market capitalization is currently only about a tenth of that of gold, he sees considerable growth potential in it.
Investing in Bitcoin as a strategic decision
The decision to invest in Bitcoin was made after considering various uses for the company's excess cash, which is significant due to its high profit margins. This investment was also taken as a measure to differentiate the company and make it more attractive to investors. Following the announcement of the investment, Semler Scientific's share price rose by about 50%, reflecting the positive reaction of the market.
The Bitcoin miner for your desk
