Semler Scientific Expands Its Bitcoin Holdings to Over 1,000 BTC, Signaling Continued Confidence in the Crypto as a Strategic Investment

Semler Scientific, a medical tech company, is intensifying its Bitcoin strategy with the purchase of an additional 83 (BTC) for $5 million

Medical tech company Semler Scientific has disclosed further expansion of its Bitcoin (BTC) holdings, now exceeding 1,000 BTC.

Semler Scientific, known for its chronic disease management solutions, announced on Monday that it has purchased an additional 83 Bitcoin (BTC) for a total of $5 million. This brings the company's total BTC holdings to 1,012 BTC, acquired at a cumulative cost of $68 million, inclusive of fees and expenses.

The Santa Clara-based healthcare technology company has reportedly acquired the BTC primarily using cash from operations, complemented by funds raised through its at-the-market equity program, as stated in the press release.

“We 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.”

Eric Semler, Chairman of Semler Scientific

Semler Scientific’s enduring Bitcoin strategy

Semler Scientific's initial venture into Bitcoin was announced in late May, with the company disclosing the acquisition of 581 BTC for $40 million.

At the time, Semler highlighted Bitcoin's potential as a “reliable store of value” and a “compelling investment,” citing its scarcity and potential as an inflation hedge and safe haven amidst global economic uncertainty. Notably, Semler also stated that the company believes that Bitcoin's digital, architectural resilience “makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin.”

With the latest transaction, Semler Scientific ranks 17th on the list of top public companies worldwide that hold Bitcoin on their balance sheet, surpassing American Bitcoin mining company Bit Digital, Inc., according to data from Bitcoin Treasuries.

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