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American health technology company Semler Scientific announced that it purchased 581 Bitcoins for a total of $40 million.
According to Prnewswire, the company also stated that it started accepting Bitcoin as a reserve asset.
Eric Semler, president of Semler Scientific, said in a statement:
“Our adoption of Bitcoin as a reserve asset and purchase of BTC underscores our belief that Bitcoin is a reliable store of value and an attractive investment.
Bitcoin is now a major asset class with a market capitalization of more than $1 trillion. We believe it has unique properties as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.
In addition, features such as digital and architectural durability make Bitcoin preferable to gold, which has a market value of approximately 10 times.
Given the difference in value between gold and Bitcoin, we believe Bitcoin has the potential to generate outsize returns as it becomes increasingly accepted as digital gold.
We are also empowered by the growing global acceptance and ‘institutionalisation’ of Bitcoin; This is reflected in the latest SEC approval of 11 Bitcoin exchange-traded funds in January 2024.”
*This is not investment advice.
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