Medical manufacturer Semler Scientific announced today that it has purchased an additional 247 bitcoins for an aggregate of $17 million in cash, including fees and expenses. On June 6, the business disclosed its most recent Bitcoin acquisition in an S-3 file with the US securities regulator.
Semler’s MD Doug Murphy-Chutorian Insights
After purchasing its first 581 Bitcoin on May 28, it currently has 828 Bitcoin valued more than $58.5 million. Semler’s MD, Doug Murphy-Chutorian, stated about their upcoming Bitcoin holdings,
Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin.
Also Doug Murphy asserted that in addition to Semler’s healthcare business, the corporation has made Bitcoin investing a primary focus. As Semsler’s principal treasury reserve asset, Bitcoin can be a reasonable inflation hedge and safe haven amid global instability.
Semler Plans to Buy More Bitcoins
Semler has announced intentions to raise an additional $150 million in debt instruments, with a portion of the proceeds going toward buying more Bitcoin. The firm aims to use the net proceeds of the securities sale for general corporate objectives, including bitcoin acquisition.
Semler Scientific Shares Increased to 30%
On May 28, Semler Scientific saw its stock price rise by 30% after declaring that Bitcoin would be its principal treasury reserve asset. As part of this approach, the business spent $40 million on 581 Bitcoins.
Crypto Shift: Staking Derivatives Down, Gaming Tokens Up Amid Bitcoin RallyEric Semler, chairman of Semler Scientific, stated that Bitcoin’s treasury strategy and purchase demonstrate the belief that Bitcoin is a dependable store of value and an appealing investment.
Semler also stated about their Bitcoin strategy, adding,
We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.
The firm produced $15.9 million in sales in the first quarter of 2024, a 13% decrease from last year. However, net income rose by 22% to $6.1 million. At the end of March, Semler’s financial sheet showed $83.86 million in assets.
