The shares of Semler Scientific, a medical technology company that specializes in developing products and services for the early detection of chronic illnesses, have surged by more than 42% following the adoption of a Bitcoin strategy reminiscent of MicroStrategy's approach.

Recently, Semler Scientific made headlines by purchasing 581 Bitcoins worth $40 million. The company's chairman, Eric Semler, shared his perspective on Bitcoin, highlighting its potential as a reasonable hedge against inflation.

The decision by Semler Scientific to venture into Bitcoin investments drew the attention of Michael Saylor, the co-founder of MicroStrategy. MicroStrategy, a Virginia-based business intelligence firm, made waves in August 2020 when it integrated Bitcoin into its treasury reserves, becoming the largest corporate holder of Bitcoin with a substantial 214,000 BTC in its possession.

The realm of corporate Bitcoin adoption has seen mixed results. While Tesla's $1.5 billion Bitcoin investment earlier this year created a buzz, subsequent crypto acquisitions by the company have been absent. Block (formerly Square) also entered the Bitcoin space with a $170 million investment in 2021. Despite these high-profile moves, few companies have followed suit in adding Bitcoin to their balance sheets.

One of the key impediments to wider corporate acceptance of Bitcoin lies in the complexity of accounting regulations. Companies holding Bitcoin face challenges such as impairment losses due to the cryptocurrency's volatility. However, upcoming accounting standards set to take effect next year are expected to simplify the process by requiring companies to value their digital assets at fair market prices.