tl;dr
Semler Scientific plans to acquire more Bitcoin through stock sales to increase its total holdings, drawing inspiration from Michael Saylor's MicroStrategy. The SEC may delay the process due to its current stance on crypto. Institutions are increasingly interested in Bitcoin as a reserve asset follo...
Semler Scientific's Plan to Acquire Bitcoin and Institutions' Interest in Bitcoin as a Reserve Asset Semler Scientific plans to acquire more Bitcoin through stock sales to increase its total holdings, drawing inspiration from Michael Saylor's MicroStrategy. The SEC may delay the process due to its current stance on crypto.
Institutions are increasingly interested in Bitcoin as a reserve asset following the approval of spot Bitcoin ETFs, despite ongoing regulatory rifts.
Semler Scientific previously purchased $57 million worth of Bitcoin for its balance sheet, following a trend set by MicroStrategy. However, the association with Bitcoin could lead to stock volatility in a bear market.
Peter Schiff, a critic of Bitcoin, believes Michael Saylor's strategy to encourage CEOs to adopt Bitcoin reserves has failed.
Semler Scientific has announced plans to acquire more Bitcoin, adding to its total BTC holdings. The firm noted that it plans to sell stock for general corporate purposes, including purchasing more Bitcoin. However, the Securities and Exchange Commission (SEC) might delay the process due to their current crypto stance.
Institutions have become more interested in Bitcoin as a reserve asset after the approval of spot Bitcoin ETFs by the SEC, testing the asset’s quality as a store of value. However, the US financial regulator remains in a rift with the market, hindering innovation and growth.
This year, Semler Scientific rolled out a Bitcoin treasure reserve, buying $57 million worth of assets for its balance sheet. The big bet on the crypto market leader stems from similar moves by Michael Saylor and MicroStrategy to increase their asset holding, leveraging on the heightened massive adoption.
While significant growth can lead to gains, the asset becoming linked with Bitcoin might see a stock plunge in a bear market. In another development, gold advocate and BTC critic Peter Schiff stated that Michael Saylor’s strategy to get more CEOs to create a Bitcoin reserve has failed.