Semler Scientific Buys Additional $5 Million Worth of Bitcoin

Medical system firm Semler Scientific introduced it bought a further 83 Bitcoin for $5 million in money. This newest purchase expands Semler’s complete Bitcoin holdings to 1,012 BTC acquired for $68 million.

JUST IN: 🇺🇸 Public Firm Semler Scientific buys one other 83 #Bitcoin value $5 million. pic.twitter.com/bQszFQcOF4

— Bitcoin Journal (@BitcoinMagazine) August 26, 2024

The transfer comes as Semler embraces a method of including Bitcoin to its steadiness sheet. In Could, the corporate invested $40 million to buy 654 BTC in its first main embrace of Bitcoin. Semler mentioned it views Bitcoin as its major treasury asset.

In June, Semler introduced one other $17 million Bitcoin acquisition of 247 BTC and mentioned it deliberate to boost as much as $150 million via an fairness program to additional enhance its Bitcoin holdings. Earlier this month, they purchased a further 101 Bitcoin value $6 million. 

“Semler stays centered on our two methods of increasing our healthcare enterprise and buying and holding Bitcoin,” mentioned CEO Doug Murphy-Chutorian in June. “We’ll proceed to pursue our technique of buying Bitcoins with money.”

Semler seems to be following MicroStrategy’s Bitcoin treasury playbook. Since 2020, MicroStrategy has bought over 225,000 bitcoins value billions of {dollars}. Its Bitcoin bets have elevated the corporate’s enterprise worth dramatically.

Different public corporations, similar to MARA, Metaplanet, and others, have additionally added Bitcoin to their steadiness sheets. Extra companies are realizing the potential advantages of holding Bitcoin as a reserve asset and hedge in opposition to inflation.