Another MicroStrategy In The Making? Semler Scientific Purchases 247 More Bitcoins To Push Total Portfolio Past $58M: 'We'll Continue To Buy More'
Portfolio Pulse from Aniket Verma
Semler Scientific Inc. (NASDAQ:SMLR) has purchased an additional $17 million worth of Bitcoin, bringing its total holdings to 828 Bitcoins valued at over $58 million. The company has adopted Bitcoin as its primary treasury reserve asset and plans to continue buying more. This move aligns with its strategy to use Bitcoin as an inflation hedge and safe haven amid global instability.
June 07, 2024 | 3:59 am
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POSITIVE IMPACT
Semler Scientific's purchase of 247 more Bitcoins for $17 million adds to the growing trend of publicly traded companies investing in Bitcoin as a treasury reserve asset.
The purchase by Semler Scientific adds to the demand for Bitcoin, which could positively impact its price in the short term. The trend of companies adopting Bitcoin as a treasury reserve asset is a bullish signal for the cryptocurrency.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Semler Scientific's recent purchase of $17 million in Bitcoin increases its total holdings to 828 Bitcoins, valued at over $58 million. The company has adopted Bitcoin as its primary treasury reserve asset and plans to continue buying more.
The purchase of additional Bitcoin and the adoption of Bitcoin as a primary treasury reserve asset indicate a strong commitment to cryptocurrency, which could attract investors interested in Bitcoin. This could positively impact SMLR's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100