Nasdaq-Listed Semler Scientific Adds $5 Million To Bitcoin Treasury, Now Holds 1,012 BTC ⋆ ZyCrypto
The post Nasdaq-Listed Semler Scientific Adds $5 Million To Bitcoin Treasury, Now Holds 1,012 BTC ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Publicly traded Semler Scientific, a little-known healthcare business that broadened its corporate strategy to also include buying Bitcoin (BTC), has scooped up 83 additional BTC, bringing its total corporate holdings to 1,012 BTC. Semlar’s Bitcoin Acquisition Spree Continues Medical device maker Semler Scientific has continued to add Bitcoin to its treasury with a $5 million purchase. Semler announced the news in an August 27 press release, revealing that it had completed the purchase of 83 Bitcoins for $5 million, inclusive of fees and expenses. The firm’s total Bitcoin holdings now amount to 1,012 BTC, purchased for $68 million. According to Semler’s chairman Eric Semler, the purchase was primarily made with cash from the company’s operations and capital raised via their “at-the-market equity program”. Eric highlighted Bitcoin’s skyrocketing institutional adoption, portraying such a development as encouraging. The top exec has forecasted that the price of Bitcoin will continue climbing due to its growing acceptance among deep-pocketed institutional clients. Advertisement   “We are encouraged by the growing institutional adoption of Bitcoin. It was recently reported that for the first time, institutions own more than 20% of bitcoin ETF assets under management. We believe this increasing institutionalization will drive value for both Bitcoin prices and for our stockholders,” Eric said in a statement. With its latest Bitcoin buy, Semler Scientific now holds the 17th largest Bitcoin treasury among publicly listed companies that hold BTC, according to data compiled by BitcoinTreasuries. Semler Takes Bitcoin Play From MicroStrategy’s Book Semler began adding Bitcoin to its balance sheet in May 2024, scooping up 581 BTC for $40 million. At the time, Eric hailed the alpha crypto as “digital gold” and stressed its potential to generate “outsize returns.” The move puts Semler in the same company as U.S. software firm MicroStrategy, which has stockpiled…
Filed under: News - @ August 27, 2024 4:24 pm