[Semler Scientific purchased an additional $5 million worth of Bitcoin]
Medical device company Semler Scientific announced the purchase of an additional 83 Bitcoins for $5 million in cash, bringing its total Bitcoin holdings to 1,012, for a total investment of $68 million. Semler sees Bitcoin as one of the strategies on the balance sheet.
In May of this year, Semler made his first large-scale Bitcoin purchase, purchasing 654 Bitcoins for $40 million. In June, it invested another $17 million to buy 247 Bitcoins, with plans to raise up to $150 million through an equity plan to further increase its holdings. Earlier this month, another 101 Bitcoins worth $6 million were purchased.
Semler CEO Doug Murphy-Chutorian said that the company will focus on expanding its functional medical business and its strategy of holding Bitcoin, and will continue to purchase Bitcoin with cash. Semler’s strategy is clearly modeled after MicroStrategy, which has purchased more than 225,000 Bitcoins since 2020, bolstering the value of the business.
Other public companies such as MARA and Metaplanet have also added Bitcoin to their balance sheets, with more and more businesses recognizing the potential benefits of holding Bitcoin as a reserve asset and to combat inflation.
