Semler Scientific Buys Another $6 Million Worth of Bitcoin

Semler Scientific, a public medical know-how firm, introduced it had bought an extra $6 million value of Bitcoin. This newest buy brings its complete Bitcoin holdings to 929 BTC, value $63 million.

JUST IN: 🇺🇸 Public Firm Semler Scientific purchases extra 101 #Bitcoin for $6 million. pic.twitter.com/VLFwuPwXQV

— Bitcoin Journal (@BitcoinMagazine) August 5, 2024

Semler adopted a Bitcoin treasury technique in Might 2024, following different public firms like MicroStrategy. Since then, it has aggressively acquired Bitcoin, citing it as a “compelling funding.”

“We proceed to firmly consider that Bitcoin is a compelling funding and plan to amass extra Bitcoins with our money from operations,” mentioned Semler chairman Eric Semler.

He added, “We plan on buying extra bitcoins with our money from operations, in addition to with money generated from the sale of securities beneath our $150.0 million shelf registration assertion, as soon as efficient.”

On Might 28, Semler purchased 581 BTC for $40 million. It adopted up with 247 BTC for $17 million on June 6 and one other 49 BTC for $3 million on June 28. As of August 5, its 929 BTC are value over $63 million.

Semler is carefully mimicking MicroStrategy’s Bitcoin technique. Since 2020, MicroStrategy has bought over 220,000 BTC value billions, making it the most important company holder. Its Bitcoin wager has elevated MicroStrategy’s enterprise worth dramatically.

Different public firms in tech and monetary providers, similar to Tesla, Block, and Mercado Bitcoin, have additionally added Bitcoin to their stability sheets. Over 50 public firms maintain Bitcoin on their books.

Bitcoin’s community results and sport principle are driving this company adoption. As extra companies purchase Bitcoin as a reserve asset, it propels different firms to observe go well with to keep away from lacking out.