"Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment," Eric Semler, Semler's chairman, said in a statement.
The stock soared 30% Tuesday, while bitcoin traded lower by about 2%, according to Coin Metrics.
Semler, which has a market capitalization of about $210 million, is down more than 30% this year.
Semler Scientific , a little-known medical technology company, saw its shares surge Tuesday after it said it has adopted bitcoin as its primary treasury reserve asset, taking a page out of MicroStrategy's playbook.
This February, the company said it would shift its company focus and brand to bitcoin development.
Persons:
Eric Semler, bitcoin, MicroStrategy, Semler
Organizations:
Metrics, Semler