Investor, founder, TCS Capital and Trailblazer Acqn Corp $BLZR. Board member, $ASST and $FCRS. Make Every Day A Masterpiece” (Walton via Wooden)
- Tweets 181
- Following 466
- Followers 21,199
- Likes 434
Semler Scientific has acquired 211 BTC for ~$21.5 million at ~$101,890 per #bitcoin and has generated BTC Yield of 67.0% QTD and 92.8% since adopting our BTC treasury strategy in May. As of 12/15/24, we held 2,084 $BTC acquired for ~$168.6 million at ~$80,916 per bitcoin. $SMLR
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Semler Scientific has acquired 303 BTC for ~$29.3 million at ~$96,779 per #bitcoin and has generated BTC Yield of 54.7% QTD and 78.7% since adopting our BTC treasury strategy in May. As of 12/4/2024, we held 1,873 $BTC acquired for ~$147.1 million at ~$78,553 per bitcoin. $SMLR
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Semler Scientific has acquired 297 BTC for ~$29.1 million at ~97,995 per #bitcoin and has generated BTC Yield of 37.4% QTD and 58.4% YTD. As of 11/24/2024, we held 1,570 $BTC acquired for ~$117.8 million at ~$75,039 per bitcoin. $SMLR ir.semlerscientific.com/news…
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$SMLR appoints Joe Burnett @IIICapital as Director of Bitcoin Strategy. Announces three-year plan to own 105,000 #Bitcoins by Year-End 2027. So fired up to have Joe on board to help with this exciting new chapter in Semler's $BTC mission. 🚀
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$SMLR is delighted to welcome Natalie Brunell to our board of directors. She is a highly respected journalist, educator, and a leading advocate for #Bitcoin, with a deep understanding of its role as a transformative asset. Natalie’s insights will be instrumental as we advance our bold Bitcoin treasury strategy and relentlessly focus on delivering long-term value to our stockholders. @natbrunell
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Semler Scientific Announces Pricing of Upsized Offering of $85 million Convertible Senior Notes $SMLR
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Why haven’t more public companies adopted a bitcoin treasury strategy?
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.
In the near future, I predict it will be considered IRRESPONSIBLE for public companies not to own bitcoin on their balance sheets. #BTC
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Welcome to the Zombie Zone, where I will be spotlighting companies that can unlock shareholder value by adopting the #Bitcoin Standard.
@saylor has identified thousands of “zombie companies” — public companies sitting on cash reserves that earn a negative real yield. He urges them to break free by making Bitcoin their primary treasury reserve asset.
Why settle for T-bills yielding 4% (below the corporate cost of capital) when Bitcoin has delivered 40%+ returns? Last year, this message resonated with our board at $SMLR.
Until recently, Semler Scientific was a zombie company. In May 2024, we answered Saylor’s clarion call, becoming the second American public company (after $MSTR) to adopt Bitcoin as its primary treasury reserve asset.
Since then, we’ve used our operating cash flow, ATM, and convertible notes to acquire 3,192 BTC -- achieving a 152% BTC yield. Our stock has nearly tripled since embracing the #Bitcoin Standard nine months ago.
We’re grateful for Saylor’s vision. Other public companies should follow suit. I’ve identified several prime candidates for Bitcoin treasuries — companies plagued by poor stock performance and sluggish growth, despite having high net cash balances and sustainable profitability and free cash flow.
Stay tuned here as I unveil several zombie companies hiding in plain sight.
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Milestone
Semler Scientific's shares are now available for options trading and it could open up a new avenue for raising capital to buy more bitcoin. $SMLR $BTC
@btcjvs reports
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Tariffs, trade wars…it’s times like these when bitcoin should be the ultimate safe haven, far superior to gold and the dollar. #BTC
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$SMLR Announces Proposed Private Offering of $75 million of Convertible Senior Notes and Preliminary Unaudited 4th Quarter 2024 Financial Results with Significant Gain from Change in Fair Value of Bitcoin Holdings
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Love the excitement out there for the Zombie Zone! There are plenty of Zombie companies to choose from across various industries, but one stands out like a sore thumb – and of course, it starts with Z.
Zombie Zone company #1: Zoom Communications
Why $ZM is the quintessential Zombie that should embrace the Bitcoin Standard as a game-changer:
✅ Dismal Stock Performance: shares have plunged ~40% over the last three years, underperforming the S&P by ~73%. Over the last five years, $ZM has lagged the S&P by ~84%.
✅ Depressed Valuation: trading at just 15x forward earnings and 9x forward EBITDA. The stock looks cheap for a reason.
✅ Massive Cash Reserves: sitting on a $7.7 billion cash pile, nearly 1/3 of its $25 billion market cap. Idle capital with no clear purpose.
✅ Sluggish Revenue Growth: guiding for low single-digit top-line growth, signaling stagnation.
✅ Strong Profitability: boasting ~40% EBITDA margins and generated $458 million of cash in the last quarter alone.
Once a pandemic darling, @Zoom is now stuck in a highly competitive, slow-growth market. The video conferencing company has struggled to find a second act to reignite momentum, despite aggressive reinvestment and acquisition attempts.
By leveraging its $7.7 billion cash pile, ~$2 billion in annualized free cash flow, and ready access to low-cost debt, @Zoom could rapidly become one of the largest corporate holders of Bitcoin.
@ericsyuan, Zoom’s founder and CEO, retains tight control via super-voting shares. With this power, he could adopt a #Bitcoin treasury strategy. Yuan hasn’t publicly expressed his views on $BTC, but the opportunity is there to unlock transformative returns for shareholders. Zoom should seize it.
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MicroStrategy targets up to $2 billion capital raise through public offerings of perpetual preferred stock in the first quarter of 2025. $MSTR
microstrategy.com/press/micr…
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Semler Scientific® Announces Additional Bitcoin Purchases prnewswire.com/news-releases…
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Legendary
Metaplanet Issues 555 Million Shares of Moving-Strike Warrants, Expected Proceeds: ~$5.4 Billion to Buy Additional $BTC; The Largest Stock Acquisition Rights Issuance in Japanese Capital Markets History & 1st Moving Strike Warrant Issued Above Market.
Accelerate.
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ZOMBIE ZONE - Company #2: Coursera, Inc. ($COUR)
Why Coursera should embrace the Bitcoin Standard to unlock shareholder value:
✅ Brutal Stock Performance: down ~75% since its IPO in 2021, underperforming the S&P by ~130%. Over the past 12 months alone, shares have plummeted ~50%, lagging the S&P by ~73%.
✅ Dirt Cheap Valuation: trading at just ~8x forward EBITDA and ~6x forward free cash flow (~17% FCF yield). Investors fear slowing growth and the risk of a dilutive acquisition.
✅ Massive Cash Reserves: sitting on $720 million in net cash — more than 55% of its $1.3 billion market cap. While some cash has gone to buybacks, the majority remains untouched.
✅ Stalled Growth: low single-digit revenue growth with no clear path to acceleration.
✅ Strong Cash Generation: renewed focus on profitability drove ~$59 million in free cash flow in 2024.
Once a rising star in online education, @coursera now faces serious growth challenges in a fiercely competitive market. With growth initiatives stagnating, the board ousted its longtime CEO three weeks ago.
Coursera must now decide to either chase uncertain expansion OR capitalize on the cash generated by its subscription business, with 168 million registered learners worldwide.
Coursera’s board has the expertise and vision to recognize the strategic advantages of holding #Bitcoin on its balance sheet. Founder and chairman @AndrewYNg — former Chief Scientist at Baidu and head of Google Brain — is an AI thought leader and sits on Amazon’s board. Two other Coursera board members are VC partners at NEA, which invests in the crypto space. The company’s lead director previously served on Robinhood’s board.
With over half of its market cap tied up in idle cash (earning a negative real yield), Coursera has a golden opportunity to maximize shareholder value by adopting a BTC treasury strategy. Will Coursera’s tech-savvy leadership seize this exponential upside before it’s too late?
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@saylor name dropping $smlr on @SquawkCNBC this morning
@JoeSquawk @BeckyQuick get @SemlerEric on!!!
@fundstrat $mstr $btc #btc
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It’s not a Zombie, but it would be great to have them in the Club
GameStop is considering investing in crypto, bitcoin in particular, per a CNBC report. $GME, $BTC
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I’m excited to share that I’ve been appointed to Director of Bitcoin Strategy at Semler Scientific ($SMLR).
@SemlerSci was the second U.S. public company to adopt a Bitcoin treasury strategy, and now we’re just getting started. With a plan to own at least 10,000 Bitcoin by the end of 2025 and 105,000 Bitcoin by the end of 2027 through accretive equity and debt financings and cash flow from operations, we are determined to build one of the largest corporate Bitcoin treasuries in the world.
Grateful to @SemlerEric, @renaecormier, @natbrunell, and the team for the opportunity. I’m excited for this new beginning. Stay tuned. There’s a lot more to come.
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Let’s go
Metaplanet has issued 21,000,000 moving strike warrants (0% discount). Estimated proceeds of ~$750 million to purchase additional $BTC.
Accelerate. ♾/21m
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$SMLR Reports 4th Quarter/Full Year 2024 Financial Results
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Thanks Natalie! Great chat!
Check out my conversation with @SemlerEric, Chairman of Semler Scientific, which adopted a #Bitcoin treasury strategy in May 2024.
We discussed the decision, why more public companies haven't followed @MicroStrategy's playbook, and why Bitcoin offers a contrarian edge. Semler Scientific currently HODLs 1273 Bitcoin!
Timecodes:
00:00 Starting as journalist
6:14 What is Semler Scientific?
10:43 @Saylor's Bitcoin influence
13:15 $SMLR's Bitcoin strategy
15:45 What is a Bitcoin yield?
17:07 Why are companies investing in Bitcoin?
21:59 Convincing people to consider Bitcoin
24:08 Strategic Bitcoin Reserve
25:20 Bitcoin price in 2025
27:17 What will push Bitcoin adoption?
28:39 Using leverage to buy more Bitcoin
30:34 Macroeconomic picture
33:31 When will Bitcoin price reach $100k?
36:07 Will Bitcoin go mainstream?
39:39 Investing in tech and media
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👇
Everyone should also check out the brand new $SMLR Investor Relations site: ir.semlerscientific.com/btc
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ZOMBIE ZONE – Company #3: Viant Technology ($DSP)
✅ Weak Stock Performance: Down 44% since its 2021 IPO and significantly underperforming in recent months.
✅ Depressed Valuation: Trades under 10x forward EBITDA despite projected mid-teens revenue growth. Investor concerns center around dilutive acquisitions, intensifying competition, and platform commoditization.
✅ Large Cash Reserves: Sitting on $205 million in net cash — roughly 25% of its $900 million market cap. Despite some buybacks and M&A, most of this capital remains idle.
✅ Strong Profitability: Generated $34 million in 2024 free cash flow, with analysts forecasting growth through 2028.
@viant_tech is a mid-sized demand-side platform (DSP) in the increasingly competitive ad tech space, facing pressure from tech giants like Google, Amazon, and The Trade Desk.
The company’s stock got sliced in half in February, reflecting skepticism about its organic growth and reliance on acquisitions.
Viant is led by co-founders Tim and Chris Vanderhook — savvy entrepreneurs who have built Viant from the ground up and retain control through their Class B voting shares and two (of four) board seats. A third brother, Russell, is also a co-founder and senior VP.
While there’s no public record of direct #Bitcoin involvement, Chris (@cvanderhook) has voiced enthusiasm for decentralized technologies. In a company video promoting the "New Open Web," he states:
“Crypto, blockchain, NFTs, the death of 3rd-party cookies… decentralization is coming… we call it the New Open Web.”
With meaningful cash reserves, strong cash generation, and open-minded leadership, Viant is in a prime position to embrace a Bitcoin treasury strategy. Doing so could unlock transformative returns and insulate the business from technological disruption and industry commoditization.
The question is no longer “why $BTC,” but “when.”
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SemNation! Thanks Natalie!
“We’re focused on becoming a powerhouse in #Bitcoin.”
New episode just released featuring Chairman Eric Semler and CFO Renae Cormier of Semler Scientific $SMLR.
Hear all about the company’s plans to aggressively stack Bitcoin and climb the leaderboard of public Bitcoin treasuries.
Timecodes:
00:00 Semler Scientific's vision and investment case
2:13 Semler Scientific's priority as a Bitcoin treasury
3:37 Adopting Bitcoin after Michael Saylor
9:11 KPIs, mNAV
12:00 Renae Cormier introduction
14:25 Buying more Bitcoin
15:16 "Volatility is vitality"
16:47 Balancing the healthcare innovation vs. Bitcoin
18:46 What is QuantaFlo?
22:26 Identifying systemic chronic health issues
23:47 Dr. Semler's lifesaving invention
26:00 Aggressive Bitcoin strategy
27:42 How to buy more Bitcoin
28:13 "Bitcoin Treasury Pioneer"
28:33 Is Bitcoin misunderstood?
31:15 Bitcoin in 10 years
34:23 Eric Semler's Bronx Baseball Dreams
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ZOMBIE ZONE – Company #4: Yalla Group Limited (NASDAQ: YALA)
✅ Weak Long-Term Stock Performance: Despite recent outperformance, $YALA has declined 25% since its 2020 IPO and is down over 80% from its ATH in February 2021.
✅ Depressed Valuation: $YALA trades at under 4x forward EBITDA and under 9x forward P/E, despite projected mid-single-digit revenue growth and increasing profitability.
✅ Large Cash Reserves: $YALA has approximately $800 million of net cash -- roughly 70% of its $1.1 billion market cap. The company has a buyback program of only $28 million. Management is also reinvesting in new “hard-core” style games to continue driving growth. The bulk of its capital remains idle, earning below the company’s estimated cost of capital.
✅ Strong Profitability: $YALA generated over $170 million in free cash flow in 2024, with analysts forecasting sustained profitability.
@yallagroupltd, based in Dubai, is the largest online social networking and gaming company in the Middle East and North Africa (MENA) region. Focused on Arabic-speaking users, Yalla’s flagship game, “Yalla Ludo,” has been pivotal in driving growth and profitability. With over 40 million monthly active users in the region, Yalla offers a variety of games and mobile apps. Tao Yang (founder/CEO) maintains tight control over the company with his ~40% equity stake. Yang has the authority to pull the trigger on a #Bitcoin treasury strategy – using the company’s substantial cash reserves to adopt Bitcoin as its primary reserve asset.
Yalla, indeed, is well positioned to become the first major public company in the MENA region to adopt the Bitcoin Standard. With its solid market position and recent stock outperformance, Yalla has a bit more appeal than the typical Zombie. If management embraces a Bitcoin treasury strategy, it could unlock a powerful two-pronged growth narrative — reinvigorating investor interest and amplifying recent momentum. Such a move could significantly enhance its investment appeal, especially amid rising regional interest in Bitcoin.
It’s an opportune moment for public companies to adopt the Bitcoin Standard in the MENA region. Yalla should seize it.
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Great convo!
I had the pleasure of sitting down with Eric Semler, Chairman, and Renae Cormier, CFO, of Semler Scientific.
Semler Scientific is a healthcare technology and #Bitcoin Treasury Company.
Here's my conversation with @SemlerEric and @renaecormier
0:00 - Introduction
0:16 - Eric’s inspiration from NBA legend Bill Walton
1:42 - Semler’s mission to transform healthcare for a brighter future
4:41 - Renae’s career background and getting into Bitcoin
7:47 - Eric’s upbringing in Oregon and journey from journalism to hedge funds
12:46 - Implementing Semler Scientific’s Bitcoin Treasury Strategy
20:40 - Semler’s Bitcoin Acquisition Strategy for 2025
23:45 - What questions are Semler Scientific investors asking?
31:40 - Semler’s favorite resources for learning about a Bitcoin Treasury Strategy
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Institutionalization is booming🚀
“The number of institutional investors holding bitcoin ETFs rose 14% in the second quarter, to 1,110 from 965, according to recent data from asset manager Bitwise Asset Management. The exchange-traded funds reached more big firms despite a 12% drop in bitcoin’s price during the second quarter of 2024.”
“If institutions will buy bitcoin when prices are volatile, imagine what could happen in a bull market,” Matt Hougan, Bitwise chief investment officer and a member of etf.com's editorial advisory board”
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Enjoyed chatting with @BitcoinPierre - great questions!
📺 The Bitcoin For Corporations Show
Episode 4 now live — hosted by @BitcoinPierre
@SemlerEric, Chairman of @SemlerSci, shares how his public company went from near-dead to Bitcoin-forward—becoming one of the most aggressive BTC buyers on the market.
00:00 — Bitcoin vs. gold: Semler’s thesis
01:00 — From hedge fund to Bitcoin conviction
06:00 — Media bias & institutional hesitance
12:00 — Why Semler chose BTC over M&A
20:00 — Boardroom resistance to Bitcoin
30:00 — How to orange-pill a corporate board
38:00 — BTC vs. cost of capital
50:00 — Why BTC stocks trade at a premium
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How many?
How many public companies will have bitcoin on their balance sheets in five years?
@RasterlyRock put the question to four pioneers in the space:
- Stephanie Lemmerman (@krakenfx),
- @HaileyLennonBTC (Fold),
- @SemlerEric (Semler Scientific) and
- Tom Lee (@fundstrat).
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“We should be a growth play”
“We want billions of dollars worth of bitcoin, and we want to be at the top of the list. We want to be one of the largest corporate holders of bitcoin.”
“I feel good about the healthcare business for the first time in two years…it’s bottomed out and it’s on the right path to creating value again”
$smlr will have well over $1B in BTC faster than people realize, and at today’s market cap you literally get a free call option that the healthcare business reaccelerates. Their five purchases over the past month are moving at 3x the pace of their accumulation rate of the past year.
Value play? Growth play? Or Both? 🤔
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Great idea @SemlerEric.
Gonna get killed for this, but another company I want to highlight (and I’m fairly sure won’t be included in Zombie Zone) is @berkshire.
Yes. I just named $BRK, one of the most successful companies of all time with current market cap of $1.04T, in a post about zombie companies.
This is 💯 serious. Not engagement farming.
The truth is that even generational, high quality companies need to continue to evolve to avoid demise. Companies that used to lead like Sears, Kodak no longer exist because they failed to evolve with the times.
I’m afraid $BRK may be making the same mistake.
$BRK has slightly underperformed the S&P500 since 2019. It would be a larger gap were it not for the 2022 🐻 market, where $BRK is positioned to outperform with their huge stack of treasuries.
$BRK currently holds $325B in cash/equivalents. Imagine what a fraction of that being allocated to $BTC would do.
I say this with utmost respect and an ex-shareholder who actually came to love investing through an admiration of Warren Buffett, but Berkshire needs to evolve. They owe it to their loyal shareholders to better allocate their capital and adapt with the times if they want to continue to be remembered as a powerhouse into the digital age of the 2020s and beyond.
Stop buying $SIRI. Get on the Bitcoin standard.
@saylor @PrestonPysh @TIP_Network
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Welcome Aboard Nick!
I'm thrilled to welcome Nick Colletta to @SemlerSci as Treasurer. He’ll be helping us execute our bitcoin treasury strategy.
Nick was previously a manager in @Deloitte’s Blockchain and Digital Assets group.
Welcome aboard, @CollettaNick.
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Speaking w/ @SemlerEric on spaces tonight.
Set reminders below everyone
nitter.app/i/spaces/1OwxWXWanbmKQ
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“Pomped!”
We are exactly 2 days away from Bitcoin Investor Week in NYC.
Speakers include:
@SenLummis
@VivekGRamaswamy
@novogratz
@CathieDWood
@JanvanEck3
@Scaramucci
@adam3us
@CaitlinLong_
@jackmallers
@natbrunell
@samcallah
@DTAPCAP
@MarkYusko
@jvisserlabs
@MartyBent
@jameslavish
@gerovich
@SemlerEric
@ashergenoot
@JasonLes_
@fgthiel
@ztownsend
@TimKotzman
@ColeMacro
and many, many more.
This is going to be an insane week of unique insights, great people, and special experiences.
TICKETS: lu.ma/bitcoininvestorweek
See you all there :)
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Hi Adam thanks for the shoutout! However, I am Eric Semler and this is my ONLY account.
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Great convo with Cade!
Interviewing @SemlerEric (Chairman of SMLR Scientific) - From Wall Street to Bitcoin: The New Market Paradigm w/ @cadebergman nitter.app/i/broadcasts/1nAKEgegY…
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Hanging with hats
Looking forward to seeing everyone at the $SMLR meet and greet at Bitcoin 2025 tomorrow!
We’re giving away some awesome Bitcoin hats, so make sure to stop by ⚡️
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Great sitting down with Brandon!
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Great Job Charles!
Here’s my full conversation with Semler Scientific Chairman @SemlerEric.
We dive into Eric’s fascinating professional background, @SemlerSci's winding yet resilient journey, and what lies ahead for Bitcoin treasury companies.
Full video here: piped.video/IkFqBCMJOX4
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What a difference a year makes; what a difference #BTC makes
📺 VIDEO: Public companies aren’t avoiding #Bitcoin volatility — they’re harnessing it as an engine for balance sheet growth.
🔸 @SemlerEric: Chairman, Semler Scientific
🔸 @willreeves: CEO, Fold
🔸 @Gerovich: CEO, Metaplanet
🎙️ @tylev: Managing Partner, @UTXOmgmt
From the @Nakamoto Stage at #Bitcoin2025:
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Thanks Mark. An honor to be your first video interview and to address the #BTC medical community
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Great job Matt!
Strive announces an $80 IPO price for its Perpetual Preferred Stock ($SATA) Offering and upsizes the deal from 1.25 million shares to 2 million shares. $ASST
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Thanks Stefania - enjoyed the chat!
🚨 Bitcoin hits the boardroom.
@SemlerSci $SMLR just pulled a @MicroStrategy with a healthcare twist.
@stefixy chats with Chairman @SemlerEric to unpack how a traditional company became a Bitcoin-first treasury pioneer.
Watch now👇
🎥 piped.video/watch?v=fgWEl9Nn…
#Bitcoin #CorporateStrategy #MicroStrategy #CryptoInvesting #BTC
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