June 9, 2024
Bitcoin News

Semler Scientific Doubles Down on Bitcoin Investment

Nasdaq-listed medical manufacturer Semler Scientific has reaffirmed its bullish stance on Bitcoin (BTC), announcing the purchase of an additional $17 million worth of the cryptocurrency. Following its initial Bitcoin acquisition last month, Semler now holds 828 Bitcoin, valued at over $58.5 million, according to an S-3 filing to the United States securities regulator on June 6.

Semler Scientific Ramping Up Bitcoin Investments

The company also disclosed plans to potentially raise up to $150 million to further bolster its Bitcoin holdings. A portion of the proceeds from the proposed debt securities offering would be allocated towards acquiring more Bitcoin. CEO Doug Murphy-Chutorian emphasized that Bitcoin investment has become a top priority alongside Semler’s healthcare business.

Semler Scientific’s proposed $150 million offering in debt securities. Source: SEC

Bitcoin as Primary Treasury Reserve Asset

Semler Scientific views Bitcoin as a compelling investment and a reliable store of value. In its SEC filing, the firm highlighted Bitcoin’s potential as an inflation hedge and a safe haven amid global instability.

Additionally, Semler Scientific asserted Bitcoin’s superiority to gold in terms of digital resilience and potential for outsized returns.

Semler Scientific’s change in share price over the last month. Source: Google Finance

Japan-based investment firm Metaplanet has also embraced a similar strategy, mirroring MicroStrategy’s playbook. Since its initial Bitcoin purchase in April, Metaplanet has accumulated a substantial Bitcoin portfolio, contributing to its notable performance on the Tokyo Stock Exchange.

Despite Semler’s proactive approach to Bitcoin investment, its stock experienced a minor decline on June 6. Thus, reflecting the market’s nuanced response to the company’s cryptocurrency endeavors.

Semler’s strategic allocation of funds underscores the growing institutional interest in Bitcoin as a long-term investment asset. This signals a broader trend towards mainstream adoption within the corporate sector.

Image by freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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