Med tech stock Semler Scientific takes bitcoin play from MicroStrategy's book, surges 30%

The company, which develops products used in the detection of peripheral arterial disease, also announced a purchase of 581 bitcoins for about $40 million, inclusive of fees and expenses.

"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."We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability," he added.

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