In a recent interview, Eric Semler, Chairman of Semler Scientific, detailed how the company shifted its business strategy to include Bitcoin as a treasury reserve. Given their strong cash assets yet poor stock performance, the decision to adopt Bitcoin sparked a remarkable transformation. Semler's activism on the board led to this strategic pivot, drawing comparisons to MicroStrategy's early moves. The results were clear, with stock prices quadrupling at one point, signaling a renewed market interest and appreciation for the previously stagnant firm.
"We were the second U.S. public company to adopt Bitcoin as a primary treasury reserve strategy. Michael Saylor obviously is the quintessential pioneer, but we're in that group."
"We had all this cash. It looked eerily similar to MicroStrategy in August of 2020. We had a very similar profile. A lot of cash. A lot of our market cap was in cash. We weren't really growing."
"We needed to figure out a way to jump start our growth and we settled on Bitcoin, which was a great decision."
"Our stock at one point had quadrupled. Now it's basically doubled... it was doing nothing for years, and it was actually going down for years."
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