Nasdaq-Listed Semler Adds Bitcoin to Treasury Reserve
CryptoNewsTerminal Staff28 May, 2024
Nasdaq-Listed Semler Adds Bitcoin to Treasury Reserve
Semler Scientific (Ticker: SMLR), a Nasdaq-listed medical technology company, has announced the addition of Bitcoin to its treasury reserve as a primary reserve asset. Semler has purchased approximately 581 BTC, amounting to roughly $40 million at the current market value. The company plans to continue acquiring Bitcoin based on its earnings and excess cash flow. This decision was based on our belief that Bitcoin is a reliable store of value and an attractive investment," said Eric Semler, Chairman of Semler. "The management team and board of directors spent considerable time evaluating alternatives for our excess cash and concluded that Bitcoin was the most suitable option. Bitcoin has emerged as a major asset class with a market capitalization exceeding $1 trillion. We believe Bitcoin will act as a reasonable hedge against inflation given the global economic uncertainty." SMLR is currently trading at $27.55, up 18% on Nasdaq. ```
