Semler Scientific (SMLR) disclosed the purchase of 581 bitcoins (BTC) for its treasury, leading to a 25% surge in its stock price during early U.S. trading hours on Tuesday. The company, with a market cap below $200 million prior to the price rise, reported holding cash and cash equivalents of $62.9 million at the end of the first quarter. Semler purchased the bitcoins for $40 million, suggesting an average price of approximately $68,850 per token. Company Chairman Eric Semler emphasized Bitcoin’s unique characteristics as a scarce asset and a reasonable inflation hedge, highlighting its potential as a safe haven amid global instability.
Medical Device Maker Semler Scientific Stock Rises 25% After $40M Bitcoin Investment
