Medical gadget business Semler Scientific revealed it bought an additional 83 Bitcoin for $5 million in money. This newest purchase expands Semler’s overall Bitcoin holdings to 1,012 BTC gotten for $68 million.
SIMPLY IN: 🇺🇸 Public Company Semler Scientific buys another 83 #Bitcoin worth $5 million. pic.twitter.com/bQszFQcOF4
— Bitcoin Magazine (@BitcoinMagazine) August 26, 2024
The relocation comes as Semler welcomes a technique of including Bitcoin to its balance sheet. In May, the business invested $40 million to acquire 654 BTC in its very first significant accept of Bitcoin. Semler stated it sees Bitcoin as its main treasury possession.
In June, Semler revealed another $17 million Bitcoin acquisition of 247 BTC and stated it prepared to raise as much as $150 million through an equity program to additional increase its Bitcoin holdings. Earlier this month, they purchased an additional 101 Bitcoin worth $6 million.Â
“Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding Bitcoin,” stated CEO Doug Murphy-Chutorian in June. “We will continue to pursue our strategy of purchasing Bitcoins with cash.”
Semler seems following MicroStrategy’s Bitcoin treasury playbook. Since 2020, MicroStrategy has actually bought over 225,000 bitcoins worth billions of dollars. Its Bitcoin bets have actually increased the business’s business worth significantly.
Other public business, such as MARA, Metaplanet, and others, have also included Bitcoin to their balance sheets. More companies are recognizing the possible advantages of holding Bitcoin as a reserve possession and hedge versus inflation.
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