Nasdaq-Traded Semler Scientific Adopts Bitcoin, Purchases 581 Bitcoins for $40 Million

May 28, 2024, 01:56 PM

Semler Scientific, a Nasdaq-traded healthcare technology company, has announced the adoption of Bitcoin as its primary treasury reserve asset. The company has purchased 581 Bitcoins for $40 million, inclusive of fees and expenses. This move is part of a broader trend of corporate adoption of Bitcoin, following in the footsteps of companies like MicroStrategy. Eric Semler, the chairman of Semler Scientific, stated that the Bitcoin treasury strategy underscores their belief in Bitcoin as a reliable store of value and a compelling investment. The company's stock is up 25% following the announcement and it is set to join the Russell 2000 index.