Semler Scientific, a med-tech company based in California, has recently announced its decision to purchase an additional 247 BTC for a total of $17 million in cash. This new acquisition brings the company’s total holdings of bitcoins to 828, which were acquired for a total of $57 million. The company has also disclosed its intention to raise $150 million to further bolster its bitcoin holdings in the future, aligning this strategy with the expansion of its overall corporate structure.
Semler Scientific has made it clear that its focus is primarily on bitcoin as a cryptocurrency asset. The company believes that bitcoin’s unique attributes set it apart from other cryptocurrencies and fiat money. These attributes, which include scarcity and the potential for outsized returns, make bitcoin a compelling investment option in the company’s view. As a result, Semler Scientific has no plans to invest in any other cryptocurrency assets aside from bitcoin.
Doug Murphy-Chutorian, MD, the CEO of Semler Scientific, emphasized the company’s commitment to its dual strategy of expanding its healthcare business and acquiring and holding bitcoin. He reiterated the company’s belief that bitcoin serves as a reliable store of value and investment opportunity. The recent purchase of an additional 247 BTC further underscores Semler Scientific’s confidence in bitcoin as an asset class.
In the past month, Semler Scientific made a strategic decision to shift its primary asset for holding reserves and excess cash to bitcoin. This move was motivated by the belief in bitcoin’s scarcity, finite supply, and its potential to act as an inflation hedge and safe haven in times of global uncertainty. The company’s chairman, Eric Semler, highlighted these reasons as key drivers behind the decision to focus on bitcoin as the primary investment for excess cash.
Semler Scientific’s approach to investing in bitcoin mirrors that of other successful companies, such as MicroStrategy, which has been accumulating significant amounts of bitcoin since August 2020. MicroStrategy currently holds over 214,000 BTC, valued at more than $15 billion. The company’s bitcoin holdings have generated substantial paper gains, underscoring the potential for significant returns from investing in this digital asset.
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