The California-based healthcare technology firm Semler Scientific, listed on the Nasdaq, is still adding Bitcoin (BTC) to its holdings. The corporation acquired an extra 101 BTC for almost $6 million, as stated in the company’s press release dated August 5. With its most recent purchase, the firm now owns 929 Bitcoin, with a market value of more than $53 million as of this writing.
In the second quarter of 2024, Semler Scientific CEO Doug Murphy-Chutorian reported a “strong income” of $5.4 million from operations. He also said that Bitcoin will be the company’s principal reserve asset. “Our healthcare business is our top priority, and we are committed to buying and holding Bitcoin.”
Increasing Bitcoin Holdings
The firm’s faith in Bitcoin’s unique qualities as a scarce asset and its potential as a hedge against inflation informs this strategy. In a statement released on May 28, Semler Scientific’s chairman, Eric Semler, acknowledged that the company’s “Bitcoin Treasury Strategy” had received overwhelmingly good feedback. “Once our $150 million shelf registration statement goes into effect, we intend to use the proceeds from the sale of assets, including Bitcoin, to acquire more Bitcoins. We maintain our strong belief that Bitcoin is an attractive investment.”
By implementing this new technique, Semler Scientific has been able to significantly increase the amount of Bitcoin it possesses since May 2024. The business spent forty million dollars on 581 Bitcoin on May 28. The business parting with $17 million for 247 Bitcoin occurred on June 6. The company spent $3 million on 49 Bitcoins on June 28. In a statement released today, Semler Scientific revealed that it has included 247 Bitcoin in its business balance sheet. As a result of his most recent acquisition, Semler’s Bitcoin holdings have now reached a total of 828 BTC.
Bitcoin Becomes a Safe-haven Asset for Corporations
Following in the footsteps of MicroStrategy, an increasing number of companies are contemplating Bitcoin as a potential haven for their cash reserves. Companies are motivated to include Bitcoin in their corporate treasury plans for a number of reasons, including its finite quantity, its ability to hedge against inflation, and the growing acceptance of Bitcoin among institutions.
Another factor contributing to the Bitcoin stockpiling craze was DeFi Technologies’ declaration of Bitcoin as its primary reserve asset in June 2024. The company’s officials believed that purchasing 110 BTC would provide them with a potential inflation hedge and shelter from currency debasement.
Metaplanet, a Japanese investment firm sometimes called “Asia’s MicroStrategy,” has accumulated around 246 Bitcoin valued at $13.4 million since it adopted its Bitcoin strategy in April 2024. The firm intends to spend nearly $60 million in Bitcoin through a new stock offering: “Metaplanet announces ¥10.08 billion Gratis Allotment of Stock Acquisition Rights; proceeds to fund additional purchases of $BTC.” Metaplanet Inc. tweeted the announcement on August 6, 2024. With 226,500 Bitcoin under management as of June 24, business intelligence and analytics firm MicroStrategy continues to dominate as the top corporate Bitcoin investor.
