Semler Scientific Pronounces Bitcoin Treasury Technique

Semler Scientific (NASDAQ:), Inc. (Nasdaq: SMLR) introduced immediately that its board of administrators has adopted bitcoin as its major treasury reserve asset. As well as, Semler Scientific introduced that it has bought 581 bitcoins for an combination quantity of $40 million, inclusive of charges and bills.

“Our bitcoin treasury technique and buy of bitcoin underscore our perception that bitcoin is a dependable retailer of worth and a compelling funding,” mentioned Eric Semler, Semler Scientific’s chairman. “Bitcoin is now a serious asset class with greater than $1 trillion of market worth. We consider it has distinctive traits as a scarce and finite asset that may function an inexpensive inflation hedge and secure haven amid international instability. We additionally consider its digital, architectural resilience makes it preferable to gold, which has a market worth of roughly 10 occasions that of bitcoin. Given the hole in worth between gold and bitcoin, we consider that bitcoin has the potential to generate outsize returns because it positive factors rising acceptance as digital gold.

“Moreover, we’re energized by the rising international acceptance and ‘institutionalization’ of bitcoin — mirrored most not too long ago by the Securities and Alternate Fee’s January 2024 approval of 11 bitcoin exchange-traded funds. These funds have reported greater than $13 billion of internet inflows, with investments from almost 1,000 establishments, together with international banks, pensions, endowments and registered funding advisors. It’s estimated that greater than 10% of all bitcoins are actually held by establishments,” added Mr. Semler.

Semler Scientific’s board and senior administration have spent substantial time inspecting potential makes use of of money, together with acquisitions. “After finding out varied options, we determined that holding bitcoin could be the perfect use of our extra money,” mentioned Mr. Semler.

Together with its bitcoin treasury technique, Semler Scientific will proceed to concentrate on its core medical services. “We stay devoted to our prospects and our aim of working a rising and worthwhile healthcare firm,” mentioned Doug Murphy-Chutorian, MD, Semler Scientific’s chief government officer. “We’re targeted on sustaining gross sales of QuantaFlo® for peripheral arterial illness testing, whereas looking for a brand new 510(ok) clearance from the FDA with expanded labeling to be used as an support within the analysis of different cardiovascular illnesses.”

As Semler Scientific continues to generate income and free money movement from gross sales of QuantaFlo, it can proactively consider its use of extra money. Bitcoin will function Semler Scientific’s principal treasury holding on an ongoing foundation, topic to market situations and the anticipated money wants of Semler Scientific.

Extra data relating to Semler Scientific’s bitcoin treasury technique might be posted on its web site at www.semlerscientific.com.