Bitcoin Investment Strategy Adopted by "NASDAQ-Listed Medical Device Manufacturer" | Reports Purchase of Approximately $40 Million

Semler Scientific, a prominent NASDAQ-listed medical device manufacturer, has made a significant move by adopting Bitcoin (BTC) as a financial asset.

On May 28, 2024, the company announced a purchase of 581 BTC, valued at approximately $40 million. This strategic decision highlights a growing trend among global companies to invest in Bitcoin, recognizing its potential as a superior store of value compared to gold.

Discover the details and implications of Semler Scientific's bold investment strategy.

Semler Scientific: Announcing Bitcoin Financial Strategy

Semler Scientific, a NASDAQ-listed American medical device manufacturer, announced on May 28, 2024, that it has adopted Bitcoin (BTC) as a financial asset and purchased 581 BTC with a total investment of $40 million.

The $40 million allocated to the BTC purchases includes fees and expenses, although the announcement did not disclose the average purchase price or timing of the purchases.

Furthermore, the official statement explained that "Bitcoin will continue to function as a key financial asset for Semler Scientific and will be adjusted according to market conditions and expected cash needs."

Evaluating BTC as a Superior Store of Value Over Gold

Regarding this Bitcoin investment strategy, Semler Scientific explained that the Board of Directors and senior management members considered various alternatives and concluded that "holding Bitcoin is the optimal use of surplus funds."

Specifically, they cited that "Bitcoin is superior as a store of value" and "can expect greater returns than gold." The company's chairman, Eric Semler, also shared the following insights.

Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment.

Bitcoin is now a major asset class with more than $1 trillion of market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.

We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin.

Given the gap in value between gold and bitcoin, we believe that bitcoin has the potential to generate outsize returns as it gains increasing acceptance as digital gold.

Furthermore, we are energized by the growing global acceptance and 'institutionalization' of bitcoin -- reflected most recently by the Securities and Exchange Commission's January 2024 approval of 11 bitcoin exchange-traded funds.

These funds have reported more than $13 billion of net inflows, with investments from nearly 1,000 institutions, including global banks, pensions, endowments and registered investment advisors.

It is estimated that more than 10% of all bitcoins are now held by institutions.

Eric Semler

Growing Adoption of Bitcoin Investment Strategies

The movement to incorporate Bitcoin as part of financial assets is expanding globally. Recently, "Metaplanet," listed on the Tokyo Stock Exchange Standard Market, also reported starting investments in Bitcoin.

Additionally, Bitcoin is held by companies such as "MicroStrategy" and "Tesla," and in El Salvador, which has adopted BTC as legal tender, a program to purchase 1 BTC daily continues.

Recently, it was also reported that the Argentine Securities Commission (CNV) held a meeting with El Salvador's National Digital Asset Commission (CNAD) regarding cryptocurrencies. This indicates a potential increase in the number of countries and companies adopting Bitcoin in the future.

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