The growing acceptance of Bitcoin in the mainstream financial strategies, Semler ScientificThe healthcare technology firm, listed on Nasdaq, revealed that it had acquired 247 Bitcoin (BTC) worth 17 million dollars.
Semler is acquiring this asset as part of its overall strategy to expand the digital portfolio. The company also has plans to add an additional 150 million dollars to its portfolio to strengthen their position in king coins.
Semler Scientific has a large Bitcoin holding of 828 BTC following its recent purchase. The company acquired this for a total of $57,000,000. Semler’s Bitcoin portfolio, at the current Bitcoin market value, is valued at $59 Million, which shows the impressive returns that the company generated.
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Doug Murphy Chutorian, Semler CEO, reiterated Semler’s unwavering commitment to both its goals of expanding healthcare operations as well as harnessing Bitcoin’s full potential for a long term investment. Murphy-Chutorian confirmed Semler’s commitment to continue purchasing Bitcoins by using cash available.
Semler explained its reasoning for prioritizing BTC in the Securities and Exchange Commission filing. Bitcoin, according to the company, is an unique asset class that has inherent characteristics. Further, the filing explains read,
“We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.”
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Semler’s bullish attitude towards Bitcoin isn’t unique. According to recent reports, institutional investors are accumulating large amounts of BTC every day. The influx of institutional money is fueling the optimism surrounding BTC and its long-term potential as a value store.
Semler Scientific’s tactical maneuvers, as the crypto-ecosystem continues to grow and evolve, underscore the increasing convergence between the traditional financial system and digital assets.
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Source: watcher.guru