Semler Scientific has announced that Bitcoin will now serve as the company’s primary treasury reserve asset. The groundbreaking company that develops marketing technology offerings for healthcare firms has seen its board of directors unveil the BTC adoption strategy implemented today.
Moreover, Semler revealed its acquisition of 581 BTC for a total of $40 million. Conversely, the newly implemented strategy is another massive step for the adoption of the asset on a mainstream level. Semler Scientific and companies like MicroStrategy are showcasing the financial capabilities of the leading cryptocurrency in today’s market.
Also Read: Bitcoin: Bernstein Predicts BTC to Reach $90,000 in 2024
Semler Scientific Announces New Bitcoin Strategy
Throughout this year, Bitcoin has taken immense steps to increase its prevalence in the financial sector. Indeed, that first began with the US Securities and Exchange Commission (SEC) approving Spot Bitcoin ETFs in January. Since then, a plethora of financial institutions have embraced the cryptocurrency.
Now, Semlar Scientific has announced its new Bitcoin treasury strategy, as well as a $40 million acquisition of the asset. Specifically, the company’s board of directors unveiled BTC’s status as its primary treasury reserve asset. In a press release issued today, Eric Selmer, the company’s chairman, discussed the monumental decision.
Also Read: Mt. Gox Moves Around Billions Worth Bitcoin Causing 1.30% Drop
“Our Bitcoin treasury strategy and purchase of Bitcoin underscore our belief that Bitcoin is a reliable store of value and a compelling investment,” Semler said. Additionally, he referred to BTC as a “major asset class,” while referencing its $1 trillion market value.
“WE believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge,” Semler added. Moreover, Semler noted its “digital, architectural resistance,” makes it preferred to other asset classes, like gold.
The company stated that it had “spent substantial time” exploring alternative treasury assets. Although it studied the potential use of cash, it ultimately uncovered the benefits of Bitcoin’s usefulness and viability in that capacity.