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Eric Semler, chairman of Semler Scientific, has predicted that more companies will adopt the bitcoin standard, as not owning bitcoin will be considered “irresponsible.” Semler attributes the slow implementation of bitcoin as a reserve asset in public companies to the conservative approach of some institutions.
Semler Scientific’s Eric Semler Predicts Bitcoin Adoption Will Keep Growing Among Public Companies
The future of bitcoin as a reserve asset is bright, at least in the public institution sector. Eric Semler, chairman of Semler Scientific, one of the companies that has followed Microstrategy’s adoption of a bitcoin treasury strategy, has tried to explain the slow growth of the prime cryptocurrency in this area.
Semler, who has been instrumental in Semler Scientific’s bitcoin stance, took it to social media to offer his personal on this issue. “Why haven’t more public companies adopted a bitcoin treasury strategy?” he asked.
Following this train of thought, Semler emphasized he believed this was out of risk aversion. “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 assessed, intrinsically comparing the U.S. dollar and bitcoin as reserve assets.
Semler declared:
In the near future, I predict it will be considered IRRESPONSIBLE for public companies not to own bitcoin on their balance sheets.
Semler Scientific started purchasing bitcoin in May, acquiring its first 581 BTC for 40 million. At the time, Semler sang the virtues of bitcoin, explaining that it constituted a new “major asset class with more than $1 trillion of market value,” also declaring that it was preferable to gold.
Read more: Medical Tech Firm Semler Scientific Invests in Bitcoin, Acquires 581 BTC
Semler has grown its Bitcoin stash since then. With its latest public purchase of 211 BTC for $21.5 million, Semler becomes one of the few companies amassing over 2,000 as part of its public reserves. Nonetheless, not only Semler has adopted Microstrategy’s bitcoin playbook: Rumble, the digital video distribution platform, recently committed $20 million to purchase bitcoin. Metaplanet, A Tokyo public company, has also made similar purchases.
Read more: Rumble Unveils $20M Bitcoin Treasury Strategy — CEO Sees ‘a New Era’
Read more: Semler Scientific Acquires Another 211 Bitcoin for $21.5 Million, Raises Holdings to 2,084 BTC