Medical device company Semler Scientific Announcement purchased An additional 83 Bitcoins for cash of $5 million. Semler has now acquired 1,012 BTC for $68M.
JUST IN: 🇺🇸 Public Company Semler Scientific buys another 83 #Bitcoin Worth $5 Million pic.twitter.com/bQszFQcOF4
— Bitcoin Magazine (@BitcoinMagazine) August 26, 2024
Semler has adopted a new strategy to add Bitcoins to its balance sheets. In MayThe company spent $40 million on 654 BTC, its first significant investment in Bitcoin. Semler has stated it sees Bitcoin as the primary asset for its treasury.
In JuneSemler has announced that it will be acquiring 247 BTC worth $17,000,000 through a stock program. The company plans to raise $150,000,000 via an equity program in order to increase its Bitcoin holdings. Earlier this monthThey bought 101 additional Bitcoins worth $6 Million.Â
“Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding Bitcoin,” Doug Murphy-Chutorian, CEO of the company, said this in June. “We will continue to pursue our strategy of purchasing Bitcoins with cash.”
Semler seems to be following MicroStrategy’s Bitcoin treasury Playbook MicroStrategy bought over 225,000 bitcoins in the amount of billions since 2020. MicroStrategy’s Bitcoin betting has dramatically increased its enterprise value.
Bitcoin has also been added to the balance sheets of other public companies such as MARA Metaplanet and others. Many firms have realized the benefits that can be gained from holding Bitcoins as an inflation hedge and reserve asset.
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Source: bitcoinmagazine.com