https://bitcoinmagazine.com/busines...ting-microstrategys-bitcoin-treasury-playbook “I couldn't help but notice what MicroStrategy accomplished,” Semler Scientific Chairman Eric Semler told Bitcoin Magazine. “It's amazing what they've done. They have this great story of taking a company that was basically trading at the market value — its cash was its complete value — and just turning that cash into a growth asset through their purchases of Bitcoin,” he added. “It was a brilliant move on Michael Saylor's part, and he's obviously proven himself with that strategy.” “Philosophically, I see merit in the argument that bitcoin is a really great alternative to gold,” he said. “I believe in gold, but I believe that bitcoin is kind of gold with optionality.” He went on to state how he appreciates Bitcoin’s perfect scarcity, its technical durability and its “architectural resilience.” “I’ve become a believer, and coinciding with that belief, I thought, maybe buying bitcoin is a really good use of our excess cash.” And Semler Scientific has been flush with excess cash, as its a “very high-margin business,” according to Semler.
SANTA CLARA, Calif., June 6, 2024 /PRNewswire/ -- Semler Scientific, Inc. (Nasdaq: SMLR), a pioneer in developing and marketing technology products and services to healthcare providers to combat chronic diseases, today announced that it has purchased an additional 247 bitcoins for an aggregate $17 million in cash, inclusive of fees and expenses. As of June 6, 2024, Semler holds a total of 828 bitcoins, which were acquired for an aggregate $57 million, inclusive of fees and expenses.
Everything he said looks as true now as it was then. Whole lotta dumbass takes back then too that haven’t changed a bit.
Artificial scarcity for something that has no meaningful use is a recipe for broader adoption for sure
Traders gonna trade I suppose. Largely been chopping around this $50-70 range for the last several months. Beyond that, no clue.
I wonder/suspect if the addition of institutional money into this security has to a certain extent moderated it's volatility.
Not a security as Lip pointed out. And there are plenty of ways to measure/track volatility pre- and post-etf if you want to look into it. We’ve had multiple $5k price days since the etf launch, so my non-data based gut instinct is that there’s no noticeable change in volatility post-etf.
Is it not relevant in the cryptocurrency thread that a public company bought $1.1b of btc and is raising millions to buy more? I also post far more than MSTR news. If you're looking for irrelevant posts, go about 2 up for the Twitter investment post.