Semler Scientific Increases Bitcoin Holdings With a $5 Million Purchase

Semler Scientific invested $5 million to acquire 83 more Bitcoin, increasing its holdings to 1,012 Bitcoin as part of its cash reserve strategy.

Deniz Saat

Aug 26, 2024 - 1 min read

Semler Scientific, a medical device company, has recently increased its Bitcoin portfolio with the acquisition of an additional 83 Bitcoin for $5 million in cash.

This recent purchase increases the company’s total Bitcoin holdings to 1,012 Bitcoin, acquired for a combined total of $68 million.

The move is part of Semler's broader strategy to integrate Bitcoin into its balance sheet.

In May, the company made its initial Bitcoin purchase, acquiring 654 Bitcoin for $40 million. Since then, Semler has positioned Bitcoin as its primary treasury asset.

In June, Semler further expanded its Bitcoin portfolio by acquiring 247 Bitcoin for $17 million and announced plans to raise up to $150 million through an equity program to support further Bitcoin purchases.

Earlier this month, the company added another 101 Bitcoin to its holdings, valued at $6 million.

CEO Doug Murphy-Chutorian stated in June that the company remains focused on expanding its healthcare business while continuing to acquire and hold Bitcoin.

He emphasized that Semler plans to use cash reserves to fund additional Bitcoin purchases.

Semler's strategy bears similarities to that of MicroStrategy, a company that has significantly increased its Bitcoin holdings since 2020, acquiring over 225,000 Bitcoin.

Other public companies, such as MARA and Metaplanet, have also started incorporating Bitcoin into their balance sheets as a reserve asset and potential hedge against inflation.