Semler Scientific Buys Additional $5 Million Worth of Bitcoin

Credit : bitcoinmagazine.com

Medical system firm Semler Scientific introduced this bought one other 83 Bitcoin for $5 million in money. This newest buy expands Semler’s complete Bitcoin holdings to 1,012 BTC, acquired for $68 million.

JUST IN: 🇺🇸 Public firm Semler Scientific buys one other 83 #Bitcoin price $5 million. pic.twitter.com/bQszFQcOF4

— Bitcoin Journal (@BitcoinMagazine) August 26, 2024

This transfer comes as Semler embraces a technique so as to add Bitcoin to its steadiness sheet. In Might, the corporate invested $40 million to buy 654 BTC in Bitcoin’s first main embrace. Semler stated it views Bitcoin as its major treasury funding.

In June, Semler introduced one other $17 million Bitcoin acquisition of 247 BTC and stated it deliberate to lift as much as $150 million by way of an fairness program to additional develop its Bitcoin holdings. Earlier this month, they bought one other 101 Bitcoin price $6 million.

“Semler stays targeted on our two methods: increasing our healthcare enterprise and buying and holding Bitcoin,” CEO Doug Murphy-Chutorian stated in June. “We’ll proceed to pursue our technique of buying Bitcoins with money.”

Semler seems to be following MicroStrategy’s Bitcoin Treasury playbook. Since 2020, MicroStrategy has bought greater than 225,000 bitcoins price billions of {dollars}. The Bitcoin bets have dramatically elevated the corporate’s enterprise worth.

Different publicly traded firms, akin to MARA, Metaplanet and others, have additionally added Bitcoin to their steadiness sheets. An increasing number of firms are realizing the potential advantages of holding Bitcoin as a reserve and to hedge in opposition to inflation.