Semler Scientific acquires additional 101 Bitcoin, holdings now at 929 BTC
Key Takeaways
- Semler Scientific has increased its Bitcoin holdings to 929 BTC with a recent purchase of 101 Bitcoin.
- The company’s total investment in Bitcoin now stands at $63 million.
Share this article
Semler Scientific, a healthcare company that has recently adopted a Bitcoin treasury strategy, has acquired an additional 101 Bitcoin (BTC), bringing its total holdings to 929 BTC within over two months.
Since May this year, Semler Scientific has spent $63 million in Bitcoin purchases as part of the company’s broader strategy to integrate Bitcoin into its treasury operations, the company shared in a Monday press release.
The firm said it plans to continue acquiring Bitcoins using cash from operations and proceeds from a shelf registration statement.
“We remain laser focused on acquiring and holding Bitcoin, while supporting and expanding our healthcare business,” said Doug Murphy-Chutorian, MD, chief executive officer of Semler Scientific.
Eric Semler, chairman of Semler Scientific, expressed enthusiasm about the market’s positive response to Semler Scientific’s decision to invest in Bitcoin.
“We continue to firmly believe that Bitcoin is a compelling investment and plan on acquiring additional bitcoins with our cash from operations, as well as with cash generated from the sale of securities under our $150.0 million shelf registration statement, once effective,” said Semler.
Semler Scientific started its Bitcoin purchase on May 28, buying 581 BTC for an aggregate amount of $40 million. In June, the company made two Bitcoin investments on June 6 and 28.
In addition to the new Bitcoin purchase, Semler Scientific reported strong income from operations of $5.4 million in the second quarter.
MicroStrategy-inspired Bitcoin strategy turns fortunes around
Semler Scientific’s Bitcoin strategy is inspired by MicroStrategy’s approach. At a recent Bitcoin conference, Semsler said strategic Bitcoin investments transformed the firm from a “zombie company” to a thriving enterprise.
“We were hearing Michael Saylor talk about zombie companies, and we realized we were probably one of those companies,” Semler stated.
“We just decided as a board that this was the best use of our cash,” he stated.
Similarly, Metaplanet, a Japanese public company known for its consistent Bitcoin purchases since earlier this year, acknowledges the high volatility of Bitcoin but sees it as an opportunity for future growth and liquidity.
Share this article
Go to Source
Author: Vivian Nguyen
