Medical device company Semler Scientific has made a bold move by investing $40 million in Bitcoin.
Shifting Cash Reserves
Semler Scientific has joined the ranks of companies like MicroStrategy by adding Bitcoin to its treasury reserves. Chairman Eric Semler believes Bitcoin is a reliable store of value and a hedge against inflation.
Excess Cash Optimization
The company had excess cash of $62.9 million and decided that Bitcoin was the best investment option. Semler remains committed to its medical business but sees Bitcoin as a potential value creator.
Stock Price Surge
The Bitcoin purchase has already boosted Semler Scientific’s stock price by 36%, contrasting its previous 50% decline this year.
Following MicroStrategy’s Lead
Semler Scientific follows in the footsteps of MicroStrategy, which has invested heavily in Bitcoin. Semler Scientific will continue to evaluate its excess cash and may consider further Bitcoin investments or other strategic initiatives.
