Founded in 2007 and listed on the Nasdaq stock exchange under the code SMLR, Semler Scientific officially announced the addition of Bitcoin to its balance sheet. The US-based firm bought 581 BTC at an average price of $40 million.

In a statement, it was noted that the SEC’s approval of Bitcoin spot ETFs in January played a leading role in this purchase.

Eric Semler, chairman of the board of directors of the healthcare firm, said, “Our acceptance of Bitcoin as a reserve asset and the purchase we made actually shows our belief in what a reliable store of value Bitcoin is.”

Semler also said that Bitcoin’s digital design makes it a more preferable asset than gold.

Michael Saylor, founder of MicroStrategy, also shared the company’s purchase announcement on his X account.