Source: The Motley Fool

According to a statement from Semler Scientific, Bitcoin will now be the company's main treasury reserve asset. The board of directors of the company that creates marketing technology solutions for healthcare organizations has revealed the BTC adoption strategy that is currently in place. This was buttressed by a purchase of 581 bitcoin tokens which cost about $40 million at the time of the purchase.

According to the company’s chairman, Eric Semler, their bitcoin strategy and the token purchase underscores their belief that bitcoin is a solid investment and a reliable store of value. “Bitcoin is now a major asset class with more than $1 trillion of market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability. 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,” he also added.

Another factor that led to the company’s decision to adopt bitcoin as its primary treasury reserve asset is the SEC’s approval of spot BTC ETFs back in January. After much analysis and research, the company thought it best to hold their “extra cash” in Bitcoin.