As a crypto investor with a background in healthcare technology, I’m intrigued by Semler Scientific’s strategic decision to incorporate Bitcoin into its financial strategy. The company’s confidence in the digital asset as a reliable store of value and attractive investment is noteworthy.
Semler Scientific, Inc. (Nasdaq: SMLR), a pioneering healthcare technology company, has disclosed the purchase of an extra 247 bitcoins, equivalent to a $17 million cash investment. With this transaction, Semler now holds a total of 828 bitcoins, amassed at an accumulated cost of approximately $57 million, including fees and other expenses, as of June 6, 2024. This significant Bitcoin acquisition underlines Semler’s forward-thinking financial strategy, positioning Bitcoin as a crucial element.
Semler Scientific, recognized for its advanced medical offerings, predominantly sells QuantaFlo®, a swift point-of-care test approved by the FDA. QuantaFlo® assesses arterial blood flow in limbs, contributing to the identification of cardiovascular conditions, specifically peripheral arterial disease (PAD). The firm is working on obtaining additional 510(k) clearance to expand QuantaFlo®’s utilization. This expansion will empower healthcare professionals to assess patients’ risks for mortality and major adverse cardiovascular events (MACE).
On the 28th of May, 2024, Semler Scientific announced the purchase of 581 bitcoins for approximately $40 million, taking into account transaction fees and other expenses. This action underscores the company’s belief in Bitcoin as a secure means to preserve value and an enticing investment opportunity.
Eric Semler, the chairman, emphasized the importance of Bitcoin as a new asset class due to its scarcity and finite supply. He pointed out that Bitcoin’s scarcity makes it an attractive hedge against inflation and a safe haven during economic turmoil. Semler noted that unlike gold, which has a much larger market value, Bitcoin’s digital resilience and architecture offer unique advantages. Furthermore, he suggested that if Bitcoin is widely accepted as a digital alternative to gold, the potential returns could be substantial.
Semler highlighted the increasing recognition of Bitcoin within institutions, signified by the US Securities and Exchange Commission’s approval of 11 Bitcoin exchange-traded funds (ETFs) on January 10, 2024. These ETFs have attracted over $13 billion in investments from approximately 1,000 institutions such as banks, pensions, endowments, and investment advisors. Institutional ownership of Bitcoin now accounts for more than 10%.
Eric Semler and the executive team at Semler Scientific weighed several possibilities for utilizing their surplus funds before settling on investing in Bitcoin. After careful consideration, they concluded that this cryptocurrency offered the most promising return on investment for their company’s excess cash.
In a statement released on June 6, 2024, Dr. Doug Murphy-Chutorian, the CEO of Semler Scientific, discussed their recent acquisition of Bitcoin. Here’s how he put it:
Semler stays committed to our two primary objectives: growing our healthcare business and amassing bitcoins. Our current bitcoin stash consists of 828 coins, demonstrating our belief in the potential of this digital currency as a lucrative investment and reliable asset. We plan on persistently implementing our approach to buy bitcoins using cash.
Read More
- Will MCU’s Blade Movie Be Rated-R Following Deadpool & Wolverine’s Rating? Kevin Feige Reveals
- ZRO PREDICTION. ZRO cryptocurrency
- Sakamoto Days Chapter 176 Will Likely Return To The Present; Release Date, Where To Read And More
- Guy Fieri Meets Flavor Flav As They Support U.S. Women’s Water Polo Team At 2024 Paris Olympics
- From Aaron W. Reed To Vinnie Jones: All The Actors Who Played Juggernaut So Far
- House Of The Dragon To Reportedly End With Season 4; Season 3 Shooting Schedule Explained
- How Responsible Is Matthew Perry’s Assistant For His Death? Here’s What Legal Experts Has To Say
- Millie Bobby Brown’s Nineteen Steps Set To Get Big Screen Adaptation; Know More Here
- USD HKD PREDICTION
- IQ PREDICTION. IQ cryptocurrency
2024-06-07 11:35