Publicly traded Semler Scientific, a little-known healthcare business that broadened its corporate strategy to also include buying Bitcoin (BTC), has scooped up 83 additional BTC, bringing its total corporate holdings to 1,012 BTC.
Semlarâs Bitcoin Acquisition Spree Continues
Medical device maker Semler Scientific has continued to add Bitcoin to its treasury with a $5 million purchase.
Semler announced the news in an August 27 press release, revealing that it had completed the purchase of 83 Bitcoins for $5 million, inclusive of fees and expenses. The firmâs total Bitcoin holdings now amount to 1,012 BTC, purchased for $68 million.
According to Semlerâs chairman Eric Semler, the purchase was primarily made with cash from the companyâs operations and capital raised via their âat-the-market equity programâ.
Eric highlighted Bitcoinâs skyrocketing institutional adoption, portraying such a development as encouraging. The top exec has forecasted that the price of Bitcoin will continue climbing due to its growing acceptance among deep-pocketed institutional clients.
âWe 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. We believe this increasing institutionalization will drive value for both Bitcoin prices and for our stockholders,â Eric said in a statement.
With its latest Bitcoin buy, Semler Scientific now holds the 17th largest Bitcoin treasury among publicly listed companies that hold BTC, according to data compiled by BitcoinTreasuries.
Semler Takes Bitcoin Play From MicroStrategyâs Book
Semler began adding Bitcoin to its balance sheet in May 2024, scooping up 581 BTC for $40 million. At the time, Eric hailed the alpha crypto as âdigital goldâ and stressed its potential to generate âoutsize returns.â
The move puts Semler in the same company as U.S. software firm MicroStrategy, which has stockpiled $14 billion worth of BTC under the leadership of its Executive Chairman, Michael Saylor. Saylor, who underwent a Damascene conversion to become a Bitcoin evangelist, contends that Bitcoin will soar to a market cap of $280 trillion in 21 years â which would make his companyâs current stash worth a whopping $3.5 trillion.
Other companies that have adopted the Microstrategy playbook include Japanese real estate firm Metaplanet.
