Medical device company Semler Scientific It was announced purchased An additional 83 Bitcoins for cash of $5 million. Semler has now acquired 1,012 BTC for a total of $68,000,000.
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 MayIn its first big embrace of Bitcoin, Semler invested 40 million dollars to buy 654 BTC. 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 an equity-based program. The company plans to raise $150,000,000 to increase its Bitcoin holdings. Earlier this monthThey purchased an additional 101 Bitcoin for $6 million.Â
“Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding Bitcoin,” Doug Murphy Chutorian, the CEO at Doug Murphy Chutorian said in June. “We will continue to pursue our strategy of purchasing Bitcoins with cash.”
Semler is following MicroStrategy’s Bitcoin treasury Playbook MicroStrategy bought over 225,000 bitcoins in the amount of billions since 2020. The company’s value has increased dramatically as a result of its Bitcoin wagers.
Bitcoin is also included in the financial statements of public companies like MARA, Metaplanet. 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
