Semler Scientific has expanded its Bitcoin holdings to over 1,000 BTC, signaling continued confidence in the crypto as a strategic investment.
Semler Scientific, a medical tech company, has intensifying its Bitcoin strategy with the purchase of an additional 83 BTC for $5 million. This raises its total holdings to 1,012 BTC at a cumulative cost of $68 million, including fees.
In a Monday press release, Aug. 26, the Santa Clara-based healthcare technology company, specializing in chronic disease management solutions, stated it had made the purchase primarily using cash from operations, supplemented by funds raised through its at-the-market equity program.
"We are encouraged by the growing institutional adoption of Bitcoin. It was recently reported that for the first time, institutions own more than 20% of Bitcoin ETF assets under management," said Eric Semler, chairman of Semler Scientific.
Semler Scientific Keeps Buying Bitcoin
Semler Scientific’s initial foray into Bitcoin occurred in late May when the company announced the acquisition of 581 BTC for $40 million.
At the time, Semler emphasized Bitcoin’s potential as a "reliable store of value" and a "compelling investment," citing its scarcity and potential as an inflation hedge and safe haven amid global economic uncertainty. Additionally, Semler also said that the company believes Bitcoin’s digital, architectural resilience "makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin."
With the latest transaction, Semler Scientific ranks 17th among the top public companies worldwide that hold Bitcoin on their balance sheet, surpassing American Bitcoin mining company Bit Digital, Inc., per data from Bitcoin Treasuries.
