Semler Scientific Bolsters Bitcoin Holdings with 101 BTC Purchase
Semler Scientific, a Nasdaq-listed healthcare technology company based in California, continues to accumulate Bitcoin ( BTC ). According to the company’s press release from August 5, the firm purchased additional 101 BTC for approximately $6 million.
This latest acquisition brings the company’s total Bitcoin holdings to 929, valued at over $53 million at the time of writing.
Doug Murphy-Chutorian, Semler Scientific’s CEO, reported “strong income” from operations of $5.4 million in Q2 2024. He also stated that the firm will hold Bitcoin as a primary reserve asset. “We remain laser focused on acquiring and holding Bitcoin, while supporting and expanding our healthcare business.”
This strategy is consistent with the company’s belief in Bitcoin’s unique characteristics as a scarce asset and its potential as a hedge against inflation.
Eric Semler, Chairman of Semler Scientific, confirmed a strong positive response to the company’s ‘Bitcoin Treasury Strategy’ announced on May 28. “We continue to firmly believe that Bitcoin is a compelling investment and plan on acquiring additional Bitcoins with our cash from operations, as well as with cash generated from the sale of securities under our $150 million shelf registration statement, once effective.”
In line with this new strategy, Semler Scientific has significantly increased its Bitcoin holdings since May 2024. The company initially purchased 581 Bitcoin for $40 million on May 28, followed by additional purchases of 247 Bitcoin for $17 million on June 6 and 49 Bitcoin for $3 million on June 28.
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