Nasdaq-listed Semler Scientific has adopted Bitcoin as its primary treasury reserve asset, leading to a significant increase in its stock price. The company purchased 581 Bitcoin for $40 million, reflecting its belief in Bitcoin as a reliable store of value and compelling investment. Semler's shares rose by 30% following the announcement.
Chairman Eric Semler views Bitcoin as a scarce asset that can hedge against inflation and serve as a safe haven amid global instability. He also highlighted Bitcoin's potential to generate outsized returns, given its architectural resilience and the value gap between it and gold.
Despite a 13% drop in revenue in Q1 2024, Semler's net income increased by 22%, giving the company the confidence to invest in Bitcoin. The market reacted positively to Semler's Bitcoin move, with shares soaring by 27% and market capitalization rising to over $200 million. This decision positions Semler as a forward-thinking leader in the healthcare technology sector.