As a seasoned crypto investor with a keen interest in following the latest developments in the digital asset space, I’m thrilled to see another publicly traded company, Semler Scientific ($SMLR), joining the ranks of those embracing Bitcoin as a treasury reserve asset.
Semler Scientific announced the acquisition of 581 bitcoins for their company reserves, leading to a significant surge of approximately 25% in their stock prices during early U.S. market sessions on Tuesday.
Based on its latest financial report, the company, whose market value was under $200 million prior to today’s stock surge, held cash and cash equivalents amounting to $62.9 million at the close of the first quarter. The company generated revenue of $15.9 million during this period and recorded an operating cash flow of $6.1 million.
Based on the information in this morning’s announcement, Semler bought 581 bitcoins for a total of $40 million, which equates to approximately $68,850 per bitcoin.
Another company has added Bitcoin to their reserve – this time healthcare giant Semler Scientific $SMLR has adopted #Bitcoin as its primary treasury reserve asset by purchasing $40 million worth of the Bitcoin.
Following in Microstrategies footprints?
The stock goes up 22% on…
— MartyParty (@martypartymusic) May 28, 2024
“Chairman Eric Semler stated that Bitcoin has surpassed the $1 trillion mark in terms of market value, making it a significant asset class. Its scarcity and finite nature distinguish it as a potential hedge against inflation and a safe-haven investment during global turmoil. Furthermore, we hold the view that its digital structure provides advantages over gold, which boasts a market worth around ten times greater than Bitcoin.”
Today’s 25% gain has brought the stock to just a 2% decline year-over-year.
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2024-05-28 17:56