Key Points:
- Semler Scientific acquired 83 more Bitcoins for $5 million, bringing its total holdings to 1,012 BTC.
- The Semler Scientific Bitcoin purchase was primarily funded through cash from operations.
- Semler cites increasing institutional investment in Bitcoin as a positive indicator of future value growth.
Semler Scientific, a healthcare technology company focused on chronic disease management, has expanded its Bitcoin investment portfolio by acquiring an additional 83 Bitcoins for $5 million.
Read more: MicroStrategy Bitcoin Holdings Tops List of Companies With Over $13.5 Billion of Reverse
Semler Scientific Bitcoin Holdings Boosted with $5 Million Purchase
The Santa Clara-based company announced the acquisition in a press release on Monday, August 26. They said it made heavy use of cash from operations, and extra money came from their at-the-market equity program.
The recent Semler Scientific Bitcoin acquisition has now propelled the company to own 1,012 Bitcoins, adding associated fees and expenses valued at $68 million. It’s now decided on more investments with Bitcoin since it believes so much in the cryptocurrency right now as both a store of value and an investment asset.
Eric Semler, Chairman of Semler Scientific, remains optimistic that more institutions will join the Bitcoin bandwagon. He shares his opinion by referencing recent reports that indicate institutions now own more than 20% of the assets in Bitcoin ETFs.
“We believe this increasing institutionalization will drive value for both bitcoin prices and for our stockholders,” Semler said.
Semler Scientific Finds Bitcoin an Inflation Hedge
Semler Scientific Bitcoin purchase first occurred in late May after it invested $40 million for 581 BTC. The company is considered an inflation hedge and safe compared to traditional assets, most importantly physical gold, as it is digital and robust.
Semler Scientific, like MicroStrategy, has purchased more Bitcoin. Other companies that have bought Bitcoin are Tesla, which has also been buying Bitcoin since August 2020.
Other companies that have followed Microstrategy in adopting this tactic include Japanese real estate company Metaplanet, Argentine e-commerce company MercadoLibre, Marathon Digital, Tesla, Coinbase, Galaxy Digital Holdings, Tether, and Boyaa Interactive.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Visited 1 times, 1 visit(s) today
Source: https://coincu.com/279991-semler-scientific-bitcoin-investment