Semler Scientific Adopts Bitcoin as Treasury Asset, Stock Surges 42.5% After 581 Bitcoin Purchase

May 28, 2024, 02:55 PM

Semler Scientific, a Nasdaq-listed 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 strategic move was approved by the board of directors and is seen as a significant step in corporate adoption of Bitcoin. Following the announcement, Semler Scientific's stock price surged by up to 42.5%. The company's chairman, Eric Semler, stated that the Bitcoin treasury strategy underscores their belief in Bitcoin as a reliable store of value and a compelling investment. The decision mirrors similar strategies adopted by companies like MicroStrategy.