Eric Semler, the chairman of Semler Scientific, recently stated that not incorporating bitcoin into company reserves will soon be perceived as “irresponsible.” He believes that the slow uptake of bitcoin as a reserve asset in public companies is due to the cautious attitude of certain institutions.
Semler Scientific, under Semler’s leadership, is one of the companies that has embraced Microstrategy’s bitcoin treasury strategy. Semler recently took to social media to express his personal perspective on the issue, posing the question, “Why haven’t more public companies adopted a bitcoin treasury strategy?”
In his post, Semler hypothesized that the reluctance to adopt bitcoin could be attributed to a fear of the unknown. He stated, “Many people instinctually see new and unfamiliar things as risky. But sometimes, the new and unfamiliar is the safer and more responsible strategic option. I believe this is one of those times.” He implicitly compared the U.S. dollar and bitcoin as reserve assets in this context.
Semler went on to assert, “In the near future, I predict it will be considered IRRESPONSIBLE for public companies not to own bitcoin on their balance sheets.”
Semler Scientific made its first foray into bitcoin in May, purchasing an initial 581 BTC for 40 million. Semler lauded the merits of bitcoin at the time, describing it as a new “major asset class with more than $1 trillion of market value,” and asserting that it was superior to gold.
Since their initial purchase, Semler Scientific has continued to accumulate bitcoin. With their recent acquisition of 211 BTC for $21.5 million, Semler has now joined the ranks of a small group of companies that hold over 2,000 BTC in their public reserves.
However, Semler Scientific is not the only company that has followed Microstrategy’s bitcoin playbook. Rumble, a digital video distribution platform, recently dedicated $20 million to bitcoin purchases. Metaplanet, a public company based in Tokyo, has also made similar investments in bitcoin.
This trend of leading public companies investing in bitcoin as a reserve asset signals a shift in traditional financial strategies. As more companies join the ranks of those investing in bitcoin, it remains to be seen whether Semler’s prediction will come to fruition, and whether non-bitcoin holding companies will indeed be viewed as ‘irresponsible’.
