HomeBitcoinSemler Scientific's stock price soars following adoption of new bitcoin treasury strategy

Semler Scientific’s stock price soars following adoption of new bitcoin treasury strategy

-


Semler Scientific Adopts Bitcoin as Primary Treasury Reserve Asset, Shares Surge

Semler Scientific, a medical technology company, made headlines on Tuesday as its shares surged after announcing its adoption of bitcoin as its primary treasury reserve asset. The company, known for developing products used in the detection of peripheral arterial disease, also revealed that it had purchased 581 bitcoins for approximately $40 million.

This move by Semler follows in the footsteps of MicroStrategy, a company that has been actively investing in bitcoin and has seen significant gains as a result. Eric Semler, the chairman of Semler Scientific, emphasized the company’s belief in bitcoin as a reliable store of value and a compelling investment.

The decision to incorporate bitcoin into its treasury strategy has propelled Semler’s stock price up by 30% on Tuesday, despite a slight dip in the price of bitcoin itself. With a market capitalization of around $210 million, Semler has experienced a 30% decline in its stock value this year.

By aligning itself with the likes of MicroStrategy, Semler aims to capitalize on the potential for bitcoin to act as an inflation hedge and safe haven asset amid global instability. The company plans to continue focusing on its core medical products and services while evaluating the use of excess cash generated from sales of its blood flow tests.

Other notable companies, such as Tesla and Block, have also integrated bitcoin into their balance sheets. As bitcoin continues to rise in value and gain acceptance, the trend of corporate treasuries adopting the cryptocurrency is seen as a significant indicator of institutional adoption.

Despite the potential benefits of holding bitcoin, regulatory uncertainty and environmental, social, and governance (ESG) considerations have hindered widespread adoption among corporate entities. Nevertheless, Semler’s bold move to embrace bitcoin signals a growing trend in the financial world towards digital assets as a viable investment option.

LATEST POSTS

Blockchain Gaming Platform Experiences 37% Surge in Value This Week Due to Anticipated Hard Fork and Token Burn

WEMIX Blockchain Platform Surges 37% Ahead of Hard Fork and Token Burn The blockchain platform WEMIX, known for its focus on gaming, has seen a...

U.S. Treasury Introduces Crypto Tax Regulations for 2025, Postpones Guidelines for Non-Custodial Entities

U.S. Treasury Department Issues Tax Regime for Cryptocurrency Transactions The U.S. Treasury Department has finally issued its long-awaited tax regime for cryptocurrency transactions, bringing clarity...

Can Ethereum NFTs Stage a Comeback?

Analyzing Ethereum's NFT Gas Usage Trends: A Deep Dive into Onchain Highlights The Ethereum network's gas consumption by transactions involving non-fungible tokens (NFTs) has been...

Judge rules in favor of SEC in majority of case against Binance, dismisses secondary sales charge

Federal Judge Upholds Most SEC Complaints Against Binance: Founder Changpeng Zhao May Be Personally Liable Federal Judge Upholds Most SEC Charges Against Binance, Founder May...

Most Popular