Eric Semler, the chairman of healthcare technology company Semler Scientific Inc., has revealed that many hedge fund executives have expressed doubts about the sustainability of Bitcoin following the end of Donald Trump’s presidency.
“The common perception is that Bitcoin is a transient phenomenon and it is likely to experience a significant decline once Trump’s administration is over,” Semler shared in a conversation with Natalie Brunell, the Coin Stories host.
Despite the prevailing skepticism in the crypto space about political support for cryptocurrencies once Trump’s term concludes, Semler remains bullish on Bitcoin. Trump’s recent approval for a Bitcoin Strategic Reserve has left some industry experts, including JAN3 founder Samson Mow, apprehensive about the continuity of such support under future presidencies.
In 2024, Semler Scientific became the second publicly traded US company to adopt a Bitcoin treasury strategy. The company announced its intent to multiply its Bitcoin assets nearly 23-fold in the next two and a half years, raising its holdings from 4,449 Bitcoin to 105,000 Bitcoin. Semler’s personal target is to possess 10,000 Bitcoin by the end of this year.
Despite the skepticism from traditional finance sectors, Semler sees this as a bullish indicator. “When you’re betting on something that the majority doesn’t believe in, and you’re right, you make substantially more money,” he stated.
According to a survey conducted by the Alternative Investment Management Association and PwC in October 2024, 47% of hedge fund managers dealing in traditional markets have investments in cryptocurrencies. This figure was 29% in 2023, and 37% in 2022. An earlier survey by Intertrust Global in June 2021 showed that 98% of CFOs from 100 global hedge funds anticipated their firms would invest 7.2% of their assets in cryptocurrencies by 2026.
