Prominent Bitcoin Critic Peter Schiff Explores Semler Stock Rally After BTC Acquisition

As part of its new treasury approach, Semler Scientific recently acquired Bitcoin worth $40 million. On Tuesday, May 28, Semler (SMLR) stock soared 25% upon announcing this acquisition. 

This dramatic upswing in stock price attracted the attention of Peter Schiff, a prominent Bitcoin critic. Schiff indirectly mocked Semler’s move, sarcastically advising other US companies to join the Bitcoin train to boost their stock prices. 

Peter Schiff Slams on Bitcoin-Purchasing Firms After Selmer’s BTC Purchase And Stock Surge

Following Semler Scientific’s disclosure, its SMLR stock price soared 25%, closing the day at $29. SMLR maintained its upward momentum, amassing an additional 10% in the aftermarket hours.

However, the prominent Bitcoin critic Peter Schiff took to social media to criticize companies like Semler that buy BTC. He maintained that such firms only seek to increase their popularity via Bitcoin acquisition to their treasury.

Further, Schiff sarcastically painted a bold scenario in which all US public companies would liquidate their assets and invest the proceeds in Bitcoin. According to Schiff, the Bitcoin price would soar to millions of dollars should such a scenario occur. 

He noted that while this move boosts BTC price, it will also cause the market cap of US stocks to surge, making investors wealthy theoretically. The critic suggested that such scenarios trigger inflation in the country in the long run.

Conversely, Pierre, one of Schiff’s followers, reacted to his assertions, indicating Schiff’s overbearing opposition to Bitcoin.

Pierre stated:

“We will be rich, But only you won’t.”

However, Schiff countered his follower’s statement, citing his elaborate investments. He pointed out that he has a huge monetary investment in US oil stock. So, he believes his investment put him among the rich in such a situation.

Schiff said:

“No, I have a lot of money in US oil stocks. Those stocks will go way up after they liquidate their operations and load up on Bitcoin. So, I will be rich too.”

Schiff is also a staunch proponent of commodities. In one of his tweets, he mentioned that Gold and Silver will soon enter their bullish season. Schiff predicted that these commodities would soon enter a parabolic phase.

Growing Attention To Companies With BTC Exposure

Most Wall Street investors have indicated a growing interest in companies with BTC exposures. The Semler stock rally following the firm’s acquisition is a demonstration of such attraction.

Moreover, MicroStrategy, the biggest corporate BTC holder in the world, is another example of such attention. The company has witnessed numerous returns since 2023, often outperforming Bitcoin.

Also, Metaplanet, a Japanese public-listed company, disclosed its plans to scale up its BTC holdings. According to the firm’s board, they will acquire an additional ¥250 million ($1.59 million) worth of Bitcoin.