Blogs & Articles: Semler Scientific Invests an Additional $6 Million in Bitcoin 🔗 6 weeks ago

Semler Scientific, a publicly traded medical technology firm, has announced the purchase of an additional $6 million in Bitcoin, increasing its total holdings to 929 Bitcoin, valued at $63 million.

In May 2024, Semler implemented a Bitcoin treasury strategy, similar to other public companies like MicroStrategy. Since then, the company has been actively acquiring Bitcoin.

"We plan on acquiring additional Bitcoins with our cash from operations, as well as with cash generated from the sale of securities under our $150.0 million shelf registration statement, once effective.," said Eric Semler, the company's chairman. 

He added that additional purchases may be funded by proceeds from the sale of securities under a $150 million shelf registration statement, once effective.

On May 28th, Semler acquired 581 Bitcoin for $40 million, followed by 247 Bitcoin for $17 million on June 6th, and another 49 Bitcoin for $3 million on June 28th. 

As of August 5th, the company's 929 Bitcoin holdings are valued at over $63 million.

Semler's strategy is similar to that of MicroStrategy, which has acquired over 220,000 Bitcoin since 2020. 

Other public companies in the tech and financial sectors, such as Tesla, Block, and Mercado Bitcoin, have also added Bitcoin to their balance sheets. 

Currently, more than 50 public companies hold Bitcoin.

As more companies invest in Bitcoin as a reserve asset, it may encourage others to consider similar investments.