Key Points
- Semler Scientific has increased its Bitcoin holdings to over 1,000 BTC.
- The company has bought an additional 83 BTC for $5 million, taking its total investment in Bitcoin to $68 million.
Semler Scientific, a medical tech firm, has further invested in Bitcoin by purchasing an additional 83 BTC for $5 million. This brings the company’s total Bitcoin holdings to 1,012 BTC, acquired at a cumulative cost of $68 million, inclusive of fees and expenses.
In a recent press release, the Santa Clara-based healthcare technology firm, specializing in chronic disease management solutions, disclosed that it used primarily operational cash for the purchase. The company also utilized funds from its at-the-market equity program.
Increasing Institutional Adoption of Bitcoin
Eric Semler, Semler Scientific’s chairman, expressed his optimism about the growing institutional adoption of Bitcoin. He noted that institutions now own more than 20% of Bitcoin ETF assets under management.
Semler Scientific’s Continued Bitcoin Investment
The company’s initial investment in Bitcoin took place in late May when it purchased 581 BTC for $40 million. Semler Scientific highlighted Bitcoin’s potential as a reliable store of value and an appealing investment due to its scarcity. The company also pointed out Bitcoin’s potential as a hedge against inflation and a safe haven amid global economic uncertainty.
Semler Scientific also expressed its belief in Bitcoin’s digital resilience, stating that it makes Bitcoin preferable to gold, which has a market value approximately ten times that of Bitcoin.
With this latest transaction, Semler Scientific now ranks 17th among public companies worldwide that hold Bitcoin on their balance sheets. This puts the company ahead of the American Bitcoin mining company, Bit Digital, Inc., according to data from Bitcoin Treasuries.
