As part of the new treasury strategy, Semler Scientific purchased 581 Bitcoin for $40 million.
Nasdaq-listed Semler Scientific (SMLR) saw its stock price soar by 30% on May 28 after announcing that Bitcoin will become its primary treasury reserve asset. As part of the strategy, the company purchased 581 Bitcoin (BTC) for a total of $40 million.
“Our bitcoin treasury strategy and purchase of Bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” said Eric Semler, Semler Scientific’s chairman.
The executive is also president of the investment fund TCS Capital Management, primarily known for its activist investment strategies, targeting companies like the crowdsourced reviews platform Yelp. The fund does not appear to have any direct or indirect exposure to Bitcoin.
