The Board of Directors of Semler Scientific has adopted Bitcoin as its main cash reserve asset. To this end, the company specializing in the development of healthcare technologies has purchased 581 Bitcoin (BTC) at a price of around $40 million.
Bitcoin lands in Semler Scientific’s treasury
Bitcoin’s special characteristics continue to appeal to US companies. Some of them are embracing this asset, despite not working in the blockchain sector. The latest is Semler Scientific, a company specializing in the development and marketing of technological products and services for healthcare providers in the fight against chronic diseases.
According to a press release from Semler Scientific, the company’s Board of Directors has adopted Bitcoin as its main cash reserve asset. To this end, excess cash generated by the company’s medical products and services will be invested in Bitcoin. The commitment to adopt Bitcoin, Semler Scientific went straight into action. The company bought 581 bitcoins for $40 million, including fees and expenses.
Bitcoin: a reliable store of value and a secure investment
The decision to adopt Bitcoin as a cash reserve asset of Semler Scientific was not a first choice. Indeed, the Board of Directors and senior management of Semler Scientific scrupulously analyzed several assets. In the end, it was Bitcoin’s characteristics and ongoing institutionalization that made its case.
Indeed, Bitcoin is a reliable store of value and a secure investment, according to the president of Semler Scientist. Eric Semler says he prefers Bitcoin to gold due in part to its digital potential, architectural resilience and market capitalization.
After studying various alternatives, we decided that holding bitcoin would be the best use of our excess cash, … Bitcoin has unique characteristics as a rare asset that can serve as a reasonable hedge against inflation and as a safe haven in a context of global instability.
Eric Semler
Elsewhere, Semler Scientific also claims to have been encouraged by the growing institutionalization of Bitcoin. Indeed, the approval of Bitcoin ETFs in the U.S. paved the way for Bitcoin investments by institutional investors. As a result banking institutions, pension funds, endowment funds, etc., have been exposed to Bitcoin. Today, nearly 10% of Bitcoins in circulation are held by institutional investors, estimates Semler Scientific.
By adopting Bitcoin as its main cash reserve, Semler Scientific is opting for an innovative choice and advantageous diversification. As for Microstrategy, which follows on from millions of dollars in earnings, Semler Scientific’s choice could pay off in the future. Like Semler Scientific, smart companies should be interested in Bitcoin (BTC).
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
