Semler Scientific Increases Bitcoin Reserves to 929 BTC, Aligns with Growing Corporate Trend

Semler Scientific Increases Bitcoin Reserves to 929 BTC, Aligns with Growing Corporate Trend

Semler Scientific, a healthcare technology company listed on Nasdaq and headquartered in California, has continued to expand its Bitcoin (BTC) holdings. In a press release dated August 5, the company disclosed the acquisition of an additional 101 BTC at a cost of approximately $6 million.

This recent purchase brings Semler Scientific’s total Bitcoin reserves to 929 BTC, with a market value exceeding $53 million at the time of writing.

Doug Murphy-Chutorian, the CEO of Semler Scientific, reported robust operational income of $5.4 million for Q2 2024. He emphasized that the company remains committed to holding Bitcoin as a primary reserve asset, stating, “We are unwavering in our focus on acquiring and holding Bitcoin, while simultaneously advancing our healthcare business.”

Enhancing Bitcoin Reserves This approach aligns with the company’s conviction in Bitcoin’s scarcity and its potential as an inflation hedge.

Eric Semler, Chairman of Semler Scientific, highlighted the positive reception of the company’s ‘Bitcoin Treasury Strategy,’ which was unveiled on May 28. “We strongly believe that Bitcoin represents a compelling investment opportunity and intend to continue acquiring additional Bitcoins with cash from our operations, as well as proceeds from the sale of securities under our $150 million shelf registration statement, once it becomes effective,” he said.

Since implementing this new strategy in May 2024, Semler Scientific has significantly bolstered its Bitcoin holdings. The company initially purchased 581 BTC for $40 million on May 28, followed by an additional 247 BTC for $17 million on June 6, and a further 49 BTC for $3 million on June 28.

Bitcoin as a Corporate Safe-Haven Asset Following the example set by MicroStrategy, an increasing number of companies are adopting Bitcoin as a treasury reserve asset.

Several factors are driving these corporate decisions, including Bitcoin’s limited supply, its potential as an inflation hedge, and its growing acceptance within institutional circles.

In June 2024, DeFi Technologies joined the wave of corporate Bitcoin accumulation, designating the cryptocurrency as its primary reserve asset. The company acquired 110 BTC, citing its potential to hedge against inflation and protect against currency debasement.

Japanese investment firm Metaplanet, often dubbed ‘Asia’s MicroStrategy,’ has held approximately 246 BTC, valued at $13.4 million, since adopting a Bitcoin-centric strategy in April 2024. The firm has plans to invest nearly $60 million in Bitcoin through an upcoming stock offering.

MicroStrategy, a leader in business intelligence and analytics, remains the largest corporate holder of Bitcoin by a significant margin, managing 226,500 BTC as of June 24.