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Semler Scientific, a pioneer in healthcare technology, has demonstrated its forward-thinking approach by adopting Bitcoin as its primary treasury reserve asset.
The company’s decision to purchase 581 Bitcoins for $40 million, including fees, showcases its confidence in the future of digital currencies.
Semler Scientific’s Chairman Eric Semler highlighted Bitcoin’s digital resilience, making it preferable to gold, which has a market value ten times that of BTC. He believes the oldest cryptocurrency could generate outsized returns as it gains acceptance.
Investing in BTC aligns with the company’s proactive financial management. As Semler Scientific generates revenue and free cash flow from QuantaFlo® sales, it will continue evaluating the best use of its excess cash. Bitcoin will be the principal treasury holding, subject to market conditions and the company’s anticipated cash needs.
Read more: Bitcoin Price Prediction 2024/2025/2030
The company indicated the decision follows increasing institutional acceptance of Bitcoin. This trend includes the approval of 11 BTC exchange-traded funds (ETFs) by US regulator in January 2024. American ETFs reported over $13 billion in net inflows, with investments from nearly 1,000 institutions, including global banks, pensions, endowments, and registered investment advisors.
Over 10% of all Bitcoins are now held by institutions. Bitcoin ETFs have reached a significant milestone, holding over 1 million BTC, nearly 5% of Bitcoin’s total supply.
SMLR Price Performance. Source: Semler Scientific
The announcement of Semler Scientific’s Bitcoin investment immediately boosted the company’s stock. It saw a 27% increase during early US trading hours on Tuesday. This significant rise, coupled with the company’s strong financial performance, highlights the positive outlook for Semler Scientific.
Other companies purchasing Bitcoin have also seen stock impacts. Metaplanet Inc., known as “Japan’s MicroStrategy,” outperformed every other company on the Japanese stock market last week. Metaplanet’s shares rose 50%, from ¥41 at Monday’s close to ¥90, marking two consecutive gains. Recently, the firm announced plans to buy another ¥250 million worth of Bitcoin.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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The post Semler Scientific Commits $40 Million to Bitcoin Investment appeared first on Panther AI.
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The company’s decision to purchase 581 Bitcoins for $40 million, including fees, showcases its confidence in the future of digital currencies.
Semler Sees Bitcoin as Digital Gold
Semler Scientific’s Chairman Eric Semler highlighted Bitcoin’s digital resilience, making it preferable to gold, which has a market value ten times that of BTC. He believes the oldest cryptocurrency could generate outsized returns as it gains acceptance.
Investing in BTC aligns with the company’s proactive financial management. As Semler Scientific generates revenue and free cash flow from QuantaFlo® sales, it will continue evaluating the best use of its excess cash. Bitcoin will be the principal treasury holding, subject to market conditions and the company’s anticipated cash needs.
Read more: Bitcoin Price Prediction 2024/2025/2030
The company indicated the decision follows increasing institutional acceptance of Bitcoin. This trend includes the approval of 11 BTC exchange-traded funds (ETFs) by US regulator in January 2024. American ETFs reported over $13 billion in net inflows, with investments from nearly 1,000 institutions, including global banks, pensions, endowments, and registered investment advisors.
Over 10% of all Bitcoins are now held by institutions. Bitcoin ETFs have reached a significant milestone, holding over 1 million BTC, nearly 5% of Bitcoin’s total supply.
SMLR Price Performance. Source: Semler Scientific
The announcement of Semler Scientific’s Bitcoin investment immediately boosted the company’s stock. It saw a 27% increase during early US trading hours on Tuesday. This significant rise, coupled with the company’s strong financial performance, highlights the positive outlook for Semler Scientific.
Other companies purchasing Bitcoin have also seen stock impacts. Metaplanet Inc., known as “Japan’s MicroStrategy,” outperformed every other company on the Japanese stock market last week. Metaplanet’s shares rose 50%, from ¥41 at Monday’s close to ¥90, marking two consecutive gains. Recently, the firm announced plans to buy another ¥250 million worth of Bitcoin.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source link
The post Semler Scientific Commits $40 Million to Bitcoin Investment appeared first on Panther AI.
Continue reading...