Semler Scientific invests $40 million in bitcoin as primary treasury asset

From Investing.com: 2024-05-28 09:04:09

Semler Scientific (NASDAQ: SMLR) announced purchasing 581 bitcoins for $40 million as its primary treasury reserve asset, citing bitcoin’s reliable store of value and potential for outsize returns compared to gold. The company’s chairman highlighted bitcoin’s growing acceptance among institutions and its digital resilience, leading to the decision to invest excess cash in bitcoin.

With bitcoin’s institutional acceptance on the rise, Semler Scientific decided to allocate excess cash to bitcoin as the best option after examining various alternatives. The company plans to continue focusing on its core medical products and services, including the QuantaFlo® for peripheral arterial disease testing, while seeking FDA clearance for expanded labeling to aid in diagnosing other cardiovascular diseases.

Having generated revenue and free cash flow from existing products, Semler Scientific has made bitcoin its principal treasury holding going forward. The company will monitor market conditions and its cash needs to evaluate the use of excess cash, with additional information on its bitcoin treasury strategy available on its website at www.semlerscientific.com.

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