Nasdaq-Traded Semler Scientific Adopts Bitcoin, Buys 581 BTC for $40M, Stock Up 25%

May 28, 2024, 02:06 PM

Semler Scientific, a Nasdaq-traded healthcare technology company, has announced the adoption of Bitcoin as its primary treasury reserve asset. The company purchased 581 bitcoins for $40 million, representing 8% of its enterprise value. This move follows a similar strategy employed by MicroStrategy. Eric Semler, the company's chairman, expressed confidence in Bitcoin as a reliable store of value and a compelling investment. The announcement led to a significant increase in Semler Scientific's stock price, which rose by 25% in early trading. The company's decision reflects a growing trend of corporate adoption of Bitcoin. Semler Scientific is also part of the Russell 2000 index.