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The Publicly Traded Healthcare Technology Company Buying Bitcoin

May 28, 2024
x min read
The Publicly Traded Healthcare Technology Company Buying Bitcoin

There’s a new publicly traded company opting for owning Bitcoin instead of cash.

What’s happening:

  • Healthcare technology company Semler Scientific (NASDAQ: SMLR) has announced they have begun to acquire Bitcoin for the first time ever

By the numbers:

  • Semler Scientific has purchased 581 Bitcoin for approximately $40M USD

Why it matters:

  • Bitcoin being held as an asset by publicly traded companies has become a paradigm shift for companies listed on major stock exchanges and also represents yet another new source of significant demand for Bitcoin

Going deeper:

  • Bitcoin has been seeing enormous amounts of new capital flow into spot Bitcoin ETFs listed on major stock exchanges in the United States, with over 900 institutions and hedge funds now owning spot Bitcoin ETFs
  • Block (NASDAQ: SQ) recently announced they would begin consistently buying Bitcoin with a percentage of all profits from their Bitcoin related operations

Market reaction:

  • Shares of Semler Scientific were up over 30% on the announcement

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