Metaplanet, Semler Scientific were ‘zombie companies’ until Bitcoin, execs say
Shares in Metaplanet and Semler Scientific are up double and triple digits since the firms followed MicroStrategy’s Bitcoin playbook this year.
Executives at Metaplanet and Semler Scientific say MicroStrategy’s Bitcoin playbook inspired them to follow suit and emerge from “zombie” status this y— while their share prices have soared.
“We were hearing Michael Saylor talk about zombie companies, and we realized we were probably one of those companies because we were not getting any love in the stock market, our stock was not performing well, and we were still very cash-rich,” Semler Scientific’s chairman Eric Semsler explained at the Bitcoin Conference in Nashville on July 25.
Zombie companies earn just enough to continue operating and service debts but have no excess capital to spur growth and are often close to insolvency.
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Author: Brayden Lindrea
