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Marcela Ruth Romero/iStock via Getty Images Semler Scientific ( NASDAQ: SMLR ) said Tuesday its board has adopted bitcoin ( BTC-USD ) as its primary treasury reserve asset and has purchased 581 BTC for $40M in total. "After studying various alternatives, we decided that holding bitcoin ( BTC-USD ) would be the best use of our excess cash," said Eric Semler, the company's chairman, adding that the cryptocurrency is "a reliable store of value and a compelling investment." Semler noted that bitcoin ( BTC-USD ) has the potential to generate outsize returns amid wider adoption, with more than 10% of all BTC now held by institutions.

As Semler Scientific ( SMLR ) continues to generate revenue and free cash flow from sales of its arterial disease test QuantaFlo, it will proactively evaluate its use of excess cash. More on Semler Scientific Semler Scientific: Great Product Can Still Thrive Post Medicare Advantage Semler Scientific (SMLR) Q1 2024 Earnings Call Transcript Semler Scientific: Not Perfect But Worth Considering.

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