Semler Scientific saw its shares surge Tuesday after it said it has adopted bitcoin as its primary treasury reserve asset.
The company, which develops products used in the detection of peripheral arterial disease, also announced a purchase of 581 bitcoins for about $40 million, inclusive of fees and expenses.
"Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment," Eric Semler, Semler's chairman, said in a statement."We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability," he added.
Markets Breaking News: Markets Microstrategy Inc Block Inc Tesla Inc Semler Scientific Inc Bitcoin/USD Coin Metrics Technology Cryptocurrency Investment Strategy Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Semler Scientific shares up 30% after adopting Bitcoin as treasury reserveAs part of the new treasury strategy, Semler Scientific purchased 581 Bitcoin for $40 million.
Read more »
MicroStrategy Announces Decentralized ID Platform On Bitcoin Called MicroStrategy OrangeMichael Saylor and the MicroStrategy Executive Vice President announce the company's latest Bitcoin innovation at MicroStrategy World: Bitcoin for Corporations 2024.
Read more »
MicroStrategy to launch Bitcoin-based decentralized ID solutionMicroStrategy has unveiled MicroStrategy Orange, a decentralized identity solution that uses Bitcoin Ordinals inscriptions.
Read more »
Did George Soros Inject $135 Million into MicroStrategy?George Soros updates stock portfolio with Michael Saylor's MicroStrategy
Read more »
MicroStrategy to Be Added to Major Equity IndexThe MicroStrategy (MSTR) stock is up more than 100% in 2024
Read more »
Two Big Bitcoin Catalysts Could Drive MicroStrategy Stock Gains, TD Cowen SaysHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Read more »