Medical technology and supplies company Semler Scientific (SMLR.US) revealed that has bought 581 BTC for about $40 million. Following this announcement, its shares rose by more than 31%. The company indicated that Bitcoin has been gaining tremendous popularity in recent months, after SEC greenlight January 11 and will prove to be a hedge against rising inflation or global instability in the future. Semler decided to invest its cash surpluses precisely in BTC, and the company's CEO Eric Semler stressed that the strategy of allocating capital surpluses in BTC will be maintained in the long term.
- At the same time, the company is focused on maintaining sales of QuantaFlo and is awaiting approval from the FDA for additional use of its proprietary technology, in cardiovascular diagnostics and treatment. Given the company's capitalization of $212 million, we can expect that its shares may prove sensitive to future price fluctuations and Bitcoin volatility. Microstrategy's CEO, Michael Saylor blissfully relayed the company's statement via the X platform.
- Semler Scientific has no debt and remains a profitable company, although the market's recent concern has been a problem with sustained revenue growth and slightly lower margins. Also, Bitcoin investment may be a signal that a company didn't recognize a more effective way of capital allocation and may have a problem with scaling its core business.
Semler Scientific (SMLR.US) shares, H1 interval
Source: xStation5
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