Publicly traded medtech buys $40M bitcoin in nod to MicroStrategy

Semler Scientific, a publicly traded medical tech company, joined MicroStrategy by buying up millions of bitcoin

article-image

Semler Scientific and Adobe Stock modified by Blockworks

share

Semler Scientific, a medical technology company, announced that it bought 581 bitcoin for roughly $40 million. 

The company also adopted bitcoin as its primary treasury reserve asset. 

Semler is listed on Nasdaq under the ticker SMLR. The stock took off after the announcement, soaring over $25 at time of publication. 

“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” said Eric Semler, Semler Scientific’s Chairman, in a press release

The company, he added, believes that bitcoin can act as an inflation hedge and safe haven against global instability. 

Read more: Q&A: Lemon CFO sees spike in Argentina bitcoin demand as locals flee inflation

“Given the gap in value between gold and bitcoin, we believe that bitcoin has the potential to generate outsize returns as it gains increasing acceptance as digital gold,” Semler added. 

In April, Coinbase analyst David Han said that bitcoin’s rising correlation to gold could “signal its increased footing as a sensitive macro asset in the absence of crypto-specific catalysts like spot ETF approvals.”

The company will now devote excess cash to buying bitcoin, though it’ll continually monitor the “anticipated cash needs” of the company. 

Semler’s strategy shifts puts it in the same playing field as MicroStrategy, though the latter has billions worth of bitcoin

And it’s not the only company to recently make the move to prioritize bitcoin. Japanese company Metaplanet announced earlier this year that it would be making a “strategic treasury transformation” after the Japanese yen exhibited weakness. 

While US-based Semler doesn’t have to deal with the same currency issues as the Japanese company, the shift shows that companies are taking a look at bitcoin.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (11).png

Research

Union’s technical design brings measured improvements to crosschain interoperability. By combining a consensus-verified hub with novel constructs like state lenses and ZK proofs for client updates, Union achieves an interoperability protocol that is highly performant, trust-minimized, and scalable.

article-image

The Google Cloud Web3 lead outlined a new Layer 1 with CME piloting tokenization on its rails

by Blockworks /
article-image

Camp is looking to onboard licensors and creators to monetize their content for AI agents

article-image

The US regulator will use Nasdaq’s system to detect manipulation across derivatives and prediction markets

by Blockworks /
article-image

SOL and HYPE have rebounded, dYdX course corrects (again)

article-image

Over 100 crypto firms and advocates urge Congress to shield open-source builders and non-custodial providers

by Blockworks /
article-image

The probabilities app is finding mainstream success