Semler Scientific, which develops products for the assessment and treatment of chronic diseases, has adopted Bitcoin as its primary store of value asset.
The medical technology company has shared a press release announcing the Board of Directors' decision to adopt Bitcoin as the primary store of value asset for its corporate treasury, following in the footsteps of microstrategy, Metaplanet and, more recently, Beck & Bulow.
According to the press release, Semler Scientific owns 581 BTC, which were acquired for a total amount of $40 million, including fees and expenses.
Bitcoin, a reliable and compelling reserve asset
Semler Scientific's decision to invest in Bitcoin follows the growing institutionalization of the cryptocurrency in the markets. The company noted that investor interest in this digital asset and its growing recognition in global markets has energized its belief that Bitcoin is a reserve asset with great potential for growth and appreciation to future.
Company president Eric Semler expressed confidence in Bitcoin, noting that the cryptocurrency has become a “reliable and compelling” long-term store of value asset. Semler acknowledged the decentralized nature of Bitcoin and the exponential growth that this cryptocurrency has achieved since its conception in 2009, which has led it to reach a market capitalization of more than $1,33 trillion dollars, today.
In addition to this, Semler highlighted the unique characteristics that Bitcoin has, which make it “a scarce and finite asset which can serve as a reasonable hedge against inflation and a safe haven amid global instability.”
The president of Semler Scientific also noted that the market-leading cryptocurrency is preferable to gold, due to “its Digital and architectural resilience".
“Our Bitcoin Treasury strategy and Bitcoin purchases underscore our belief that Bitcoin is a reliable store of value and a compelling investment,” said Eric Semler.
The president of the medical technology company stressed, in addition, that the bitcoin price could grow exponentially in the future, considering its transformative and disruptive potential and its growing recognition as the digital gold.
Bitcoin ETFs Drive Institutional Inflow
Since the approval of Bitcoin cash exchange-traded funds in the United States in January of this year, Nearly 1.000 financial institutions and companies have entered the Bitcoin marketFrom hedge funds to commercial banks and state pension funds, all of these institutions are investing in cryptocurrency, Semler noted, highlighting the institutionalization of this digital asset.
“After studying several alternatives, we decided that holding bitcoin would be the best use of our excess cash,” Semler said.
These words are reminiscent of those of Michael Saylor, former CEO and executive chairman of MicroStrategy, when he announced his first Bitcoin acquisition in August 2020.
At the time, Saylor expressed that Bitcoin would become the primary reserve asset for its corporate treasury, based on the belief that BTC is a store of value and a superior alternative investment asset to traditional investments such as gold. Since then, MicroStrategy not only became the first public company to purchase bitcoin, but is currently the first public company to purchase bitcoin. the largest institutional investor in cryptocurrency, with a current holding of 214.400 BTC, which are valued at more than $14.500 billion, according to the bitcoin price in the market.
Two other major companies that have followed in MicroStrategy's footsteps are Metaplanet and Beck & Bulow, which also decided to bet on Bitcoin as a long-term store of value.
Semler Scientific is a medical technology company that provides software for the detection and treatment of chronic diseases. After announcing the adoption of Bitcoin as a store of value asset, its president assured that the company will continue to focus on the development of its main medical products and services.
According to Yahoo Finance, the medical technology company's shares rose more than a 27% on Tuesday, after announcing the investment of $40 million to purchase 581 BTC.
