From NASDAQ: 2024-05-28 16:05:00

Shares of Semler Scientific (NASDAQ: SMLR) climbed 43.1% as the medical device maker announced a new treasury plan focused on Bitcoin (CRYPTO: BTC). The company purchased 581 bitcoins for $40 million, citing Bitcoin’s potential as a reliable store of value and an attractive investment compared to gold.

Semler Scientific’s move to invest heavily in Bitcoin echoes MicroStrategy’s strategy, making it a microcap stock with a newfound focus on cryptocurrency. Despite the shift, the company remains dedicated to fighting chronic diseases with its flagship product, the QuantaFlo blood flow testing device, which may expand into diagnosing cardiovascular diseases.

As a result of its Bitcoin investment, Semler Scientific is now considered a crypto stock, with its value likely to fluctuate alongside Bitcoin’s price movements. Investors should consider the company’s shift and potential impact on stock performance before deciding to invest in Semler Scientific.

The Motley Fool Stock Advisor team did not include Semler Scientific in their list of top 10 stocks to buy now, emphasizing the importance of thorough research and analysis before making investment decisions. The Stock Advisor service offers guidance on portfolio building and stock picks to help investors achieve long-term success.

Read more at Nasdaq: Semler Scientific’s Bitcoin Bet Sends Stock Soaring 43%