Medical device company Semler Scientific (SMLR) has increased its Bitcoin holdings, now owning a total of 1,058 BTC. The company disclosed this new acquisition alongside its third-quarter earnings report, stating that it added 47 Bitcoin since its previous update in late August.
This latest purchase cost approximately $3 million, bringing the total amount Semler has invested in Bitcoin to $71 million. With Bitcoin currently trading at around $67,500, the firm is at about breakeven on its investment.
Semler Scientific Increases Bitcoin Holdings
According to Eric Semler, chairman of Semler Scientific, the company is committed to increasing its Bitcoin holdings. “We are capitalizing on the opportunity to maximize stakeholder value by accumulating Bitcoin,” he said.
Semler Scientific explained that the firm plans to use cash from operations, as well as proceeds from its at-the-market (ATM) stock sale program, to fund further Bitcoin purchases. Additionally, the company is exploring new financing options to expand its Bitcoin holdings further.
This shift toward digital assets represents a notable strategy for a healthcare-focused company like Semler. While the firm continues to perform well in its core medical technology business, it has placed substantial emphasis on its Bitcoin investments as an additional approach to enhance value for shareholders.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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