Medical device company Semler Scientific announced it purchased an additional 83 Bitcoin for $5 million in cash. This latest buy expands Semlerâs total Bitcoin holdings to 1,012 BTC acquired for $68 million.
The move comes as Semler embraces a strategy of adding Bitcoin to its balance sheet. In May, the company invested $40 million to purchase 654 BTC in its first major embrace of Bitcoin. Semler said it views Bitcoin as its primary treasury asset.
In June, Semler announced another $17 million Bitcoin acquisition of 247 BTC and said it planned to raise up to $150 million through an equity program to further boost its Bitcoin holdings. Earlier this month, they bought an additional 101 Bitcoin worth $6 million.Â
âSemler remains focused on our two strategies of expanding our healthcare business and acquiring and holding Bitcoin,â said CEO Doug Murphy-Chutorian in June. âWe will continue to pursue our strategy of purchasing Bitcoins with cash.â
Semler appears to be following MicroStrategyâs Bitcoin treasury playbook. Since 2020, MicroStrategy has purchased over 225,000 bitcoins worth billions of dollars. Its Bitcoin bets have increased the companyâs enterprise value dramatically.
Other public companies, such as MARA, Metaplanet, and others, have also added Bitcoin to their balance sheets. More firms are realizing the potential benefits of holding Bitcoin as a reserve asset and hedge against inflation.
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