Semler Scientific Chairman: "Zoom Needs to Hold Bitcoin (BTC) to Recover from Poor Performance"
Summary
- Semler Scientific Chairman Eric Semler stated that Zoom could provide shareholder value by adopting a Bitcoin (BTC) strategy.
- He indicated that Zoom could become one of the largest Bitcoin holders by utilizing its $7.7 billion in cash and $2 billion in cash flow.
- It was reported that Zoom's current stock price has fallen about 85% from its 2020 peak.
According to CoinDesk, a cryptocurrency media outlet, on the 13th (local time), Eric Semler, chairman of the Nasdaq-listed medical technology company Semler Scientific, stated that "Zoom (ZM), the global video conferencing platform developer, needs to adopt a Bitcoin (BTC) strategy to recover from poor performance and provide value to shareholders."
He explained, "While Zoom was a prime beneficiary of the widespread adoption of video conferencing and remote work during the pandemic, its growth has now slowed. Considering its $7.7 billion in cash, $2 billion in cash flow, and access to low-interest debt, Zoom could quickly become one of the largest Bitcoin holders."
Meanwhile, Zoom's current stock price has fallen approximately 85% from its 2020 peak.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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