The Company That Purchased $40 Million Bitcoin Grew by 25 Percent

Semler Scientific, which develops products to combat chronic diseases, invested in Bitcoin (BTC).

Semler Scientific has chosen Bitcoin as the primary asset in the company's reserve. The company purchased 581 Bitcoins for $40 million.

“Our Treasury Bitcoin strategy and our purchase of Bitcoin demonstrates our belief that Bitcoin is a reliable store of value and an attractive investment,” said Eric Semler, Chief Executive Officer of Semler Scientific.

“After examining various alternatives, we decided that Bitcoin would be the best way to invest the extra cash we had,” Semler said.

According to the most recent data, the company had cash and cash equivalents worth $62.9 million as of the end of the first quarter.

Semler Scientific (SMLR) shares gained up to 25% after it was announced that the company was investing in Bitcoin.