Health company Semler Scientific invests in Bitcoin for its treasury – DiarioBitcoin
By Hannah Perez
The health and medical company, Semler Scientific, purchased USD $40 million in Bitcoin and made the cryptocurrency its main treasury asset.
***
- A company in the health industry just invested USD $40 million in Bitcoin
- Semler Scientific announced that it has made Bitcoin its main treasury asset
- He hinted that he has more confidence in cryptocurrency than gold
Semler Scientifica company that offers technological solutions to healthcare providers in the United States, has just made a huge bet on Bitcoin.
The medical company announced that it has made an investment in Bitcoin worth USD $40 million in a press release this Tuesday. The board of directors said it added a total of 581 bitcoins (BTC) to your balance sheet as part of a strategy to convert to Bitcoin in its “main treasury reserve asset“.
“Our treasury strategy of bitcoins and the purchase of bitcoins They underscore our belief that bitcoin It is a reliable store of value and a compelling investment“, said Eric Semler President of Semler Scientific.
The president cited the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States as a sign of the “growing global acceptance and institutionalization” of Bitcoin as one of the reasons behind the decision.
“Bitcoin is now a major asset class with more than 1 billion dollars of market value. “We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable hedge against inflation and a safe haven amid global instability.”Semler commented in the statement.
“Architectural resilience makes it preferable to gold… we believe that Bitcoin has the potential to generate huge returns as it gains increasing acceptance as digital gold“he added.
Semler Scientific had cash and cash equivalents of USD $62.9 million at the end of the first quarter, according to its most recent earnings statement . It had first quarter revenue of USD $15.9 million and operating cash flow of USD $6.1 million. Its market capitalization is less than $200 million, according to CoinDesk.
As part of the new investment strategy, the company plans to exchange its excess cash for funds in the world’s largest and oldest cryptocurrency. “After studying several alternatives, we decided that keeping Bitcoin would be the best use of our excess cash“held Semler
The company’s shares jumped 31% following the investment news in Bitcoin.
Semler Scientific now joins the list of companies that add Bitcoin to your reserves. MicroStrategy, Michael Saylor’s enterprise software company, is known for its aggressive investment strategy in Bitcoin. He owns more than 210,000 BTC worth approximately USD $14.5 billion and is the largest corporate whale.
More recently, another handful of high-profile institutions have been seeking exposure to Bitcoin through ETFs.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
