01:05 PM EDT, 05/28/2024 (MT Newswires) -- Semler Scientific ( SMLR ) was surging nearly 31% during Tuesday trading after the marketing technology company said it will now use bitcoin as its primary treasury reserve asset after recently buying 581 bitcoins for $40 million.

The decision reflects the company's belief "that bitcoin is a reliable store of value and a compelling investment," board chairman Eric Semler said in a statement.

Semler also touted the digital currency as a viable alternative to gold or other assets with the "potential to generate outsize returns as it gains increasing acceptance" with investors.

Price: 30.45, Change: +7.13, Percent Change: +30.59