On Tuesday, May 28, healthcare firm Semler Scientific (NASDAQ: SMLR) announced purchasing $40 million worth of Bitcoins as part of its treasury. Well, the news was enough to push the Semler (SMLR) stock price soaring by more than 25% ending Tuesday’s trading at $29.0 levels. In the aftermarket hours, the SMLR stock also made an additional run-up of 10%.
Peter Schiff Takes A Dig At Bitcoin-Buying Companies Liek Semler
Bitcoin critic Peter Schiff took a dig at companies seeking to increase exposure to Bitcoin as part of its treasury. Renowned economist Peter Schiff posed a provocative scenario on social media, suggesting that if all publicly traded U.S. companies sold their assets, ceased operations, and used the proceeds to buy Bitcoin, the value of each Bitcoin could skyrocket to millions. Schiff argued that this move would cause the market capitalization of U.S. stocks to soar, theoretically making everyone wealthy.
One of his followers Pierre responded to Schiff saying “We will be rich. But only you won’t,” considering Schiff’s anti-Bitcoin stand over the years.
Taking a dig further Schiff stated he has significant investments in U.S. oil stocks, expressing confidence that these stocks would surge in value if the companies liquidated their operations to invest in Bitcoin. “I will be rich too,” Schiff remarked, highlighting his optimism about the potential financial gains from such a move.
MicroStrategy, the world’s largest corporate holder of Bitcoin, has given multi-fold returns since the beginning of 2023, consistently outbeating Bitcoin’s returns. This shows that Wall Street investors seem to be a lot more interested in companies that have exposure to BTC.
In addition to Semler Scientific, Japan’s public-listed firm Metaplanet also announced increasing its Bitcoin exposure on Tuesday. The company announced a board resolution to purchase ¥250 million worth of Bitcoin as part of its recent strategic plan.
Schiff Bets on Gold and Silver
Peter Schiff, who prefers commodities doubled down his stand on Gold and Silver. He expects a parabolic rally in both the metal commodities in the coming days.
Schiff noted that the iShares Silver Trust ETF (SLV) recently achieved its highest close since January 2013. At that time, gold was priced below $1,700, whereas it recently closed above $2,360, reflecting a 40% increase. Despite this, silver’s price has remained flat. Schiff suggests that if silver closes this performance gap without any change in gold’s price, silver could rise above $45.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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