As a seasoned analyst with a decade of experience navigating the intricacies of the financial market, I find Semler Scientific’s Bitcoin strategy to be a bold and strategic move, particularly for a medical tech company. This is not a typical play for such a firm, but given the current economic climate, it seems like a shrewd bet on digital gold.
Semler Scientific now owns more than 1,000 Bitcoins, demonstrating their ongoing belief in cryptocurrency as a shrewd long-term investment choice.
Semler Scientific, a medical technology firm, has strengthened its Bitcoin approach by acquiring an extra 83 Bitcoins for a sum of $5 million, increasing their total Bitcoin holdings to 1,012 BTC at a collective cost (including all related fees and charges) of approximately $68 million.
On August 26th, a healthcare technology company based in Santa Clara, specializing in chronic disease management solutions, announced in a press release that they had mainly financed a recent acquisition with earnings from their operations and additional funds raised through their at-the-market equity program.
“It’s heartening to see a surge in institutional involvement with Bitcoin, as we now learn that these institutions hold over 20% of the total assets managed by Bitcoin ETFs – a significant milestone.”
Eric Semler, chairman of Semler Scientific
Semler Scientific keeps buying Bitcoin
In late May, Semler Scientific took its first steps with Bitcoin by announcing it had purchased 581 Bitcoins for a total of $40 million.
During that period, Semler highlighted Bitcoin’s promise as a “secure means of storing wealth” and an “attractive investment opportunity,” attributing this to its limited supply, potential for protecting against inflation, and its usefulness as a safe haven during global economic turmoil. Moreover, Semler also expressed his view at the time that the company considers Bitcoin’s digital robustness superior to gold, whose market value is approximately ten times greater than Bitcoin’s.
Following the most recent financial transaction, Semler Scientific has moved into the 17th position among global publicly traded companies that have Bitcoin in their assets, outranking Bit Digital, Inc., a U.S.-based Bitcoin mining company, according to information from Bitcoin Treasuries.
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2024-08-26 16:16