Medical equipment company Semler Scientific has announced this. bought An additional 83 Bitcoins for $5 million in cash. This latest purchase brings Semler’s total Bitcoin holdings to 1,012 BTC, purchased for $68 million.
Just: 🇺🇸 Public company Semler Scientific buys 83 more #bitcoin Its price is 5 million dollars. pic.twitter.com/bQszFQcOF4
— Bitcoin Magazine (@BitcoinMagazine) August 26, 2024
The move comes as Semler pursues a strategy to incorporate bitcoin into its balance sheet. In May, the company invested $40 million to purchase 654 BTC in a bid to become its first adopter of bitcoin. Semler said he views bitcoin as his primary treasury asset.
In June, Semler announced another $247 million bitcoin acquisition of 17 BTC and said it plans to raise up to $150 million through an equity program to further increase its bitcoin holdings. Earlier this month, he purchased an additional 101 bitcoins worth $6 million.
“Semler remains focused on the two strategies of expanding its healthcare business and acquiring and holding bitcoin,” CEO Doug Murphy-Chutorian said in June. “We will continue to execute on our strategy of purchasing bitcoin with cash.”
Semler appears to be following MicroStrategy’s bitcoin treasury playbook. Since 2020, MicroStrategy has purchased more than 225,000 bitcoins worth billions of dollars. Its bitcoin bets have dramatically increased the company’s enterprise value.
Other public companies, such as MARA, Metaplanet and others, have also added Bitcoin to their balance sheets. More and more companies are realizing the potential benefits of holding Bitcoin as a reserve asset and a hedge against inflation.
