Quick Take
On May 28, Semler Scientific unveiled its Bitcoin treasury strategy, following the path of companies like MicroStrategy and Metaplanet. This announcement has had a positive impact on Semler’s stock, which has surged by 10%, contrasting with MicroStrategy’s slight decline of over 2% and Bitcoin’s modest 2% rise since May 27. Before the announcement, Semler Scientific’s shares were trading at approximately $23 and have since climbed to $32.
On June 6, Semler Scientific reported it had made additional Bitcoin purchases, acquiring 247 Bitcoins for a total of $17 million, including fees and expenses. As of June 10, 2024, Semler holds a total of 828 Bitcoins, bought for an aggregate sum of $57 million, including all associated costs.
Doug Murphy-Chutorian, MD, the CEO of Semler Scientific, emphasized the company’s dual focus on expanding its healthcare business and investing in Bitcoin.
“The company now holds 828 Bitcoins, underscoring our view that Bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing Bitcoins with cash.”
Semler Sceintific is up 2.5% pre-market.
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