Blockchain
Semler Scientific Announces Bitcoin (BTC) Treasury Strategy.
Semler Scientific (SMLR) announced the purchase of 581 bitcoins (BTC) for its Treasury, sending its stock price up 25% in early U.S. trading hours Tuesday.
The company with a market capitalization of less than $200 million (before this morning’s price increase) held cash and cash equivalents of $62.9 million at the end of the first quarter, according to its data. most recent earnings statement. In the first quarter, it reported revenue of $15.9 million and operating cash flow of $6.1 million. millions.
According to this this morning’s press releaseSemler purchased 581 bitcoins for $40 million, suggesting an average price of around $68,850 per token.
“Bitcoin is now a major asset class with more than $1 trillion in market value,” said company president Eric Semler. “We believe it has unique characteristics as a scarce and limited asset that can serve as a reasonable hedge against inflation and a safe haven amid global instability. We also believe its digital and architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin.”
Today’s 25% gain has the stock down just 2% year over year.