Crypto News Today- Semler Commits $150 Million to Bitcoin, Echoing MicroStrategy Strategy
Crypto News– Medical technology firm Semler Scientific has reinforced its commitment to purchasing Bitcoin for its treasury. The company recently announced the acquisition of an additional $17 million worth of BTC and plans to buy up to $150 million more.
In a press release, Semler revealed that it had bought 247 BTC for a total of $17 million, including fees and expenses. This purchase brings the firm’s total Bitcoin holdings to 828 BTC, valued at nearly $59 million at current prices.
Semler remains focused on our two strategies: expanding our healthcare business and acquiring and holding Bitcoin, said Semler CEO Doug Murphy-Chutorian in the statement. He emphasized that the firm views Bitcoin as a compelling investment and a reliable store of value.
Murphy-Chutorian confirmed that Semler will continue its Bitcoin acquisition strategy. In a Form S-3 filing with the U.S. Securities and Exchange Commission (SEC), the company disclosed plans to raise up to $150 million through sales of debt securities, with the proceeds intended for general corporate purposes, including the acquisition of Bitcoin.
Semler Scientific’s Approach to Bitcoin
In May, medical device manufacturer Semler Scientific unveiled its intention to embrace Bitcoin as its primary treasury reserve asset. The company initiated this strategy with the purchase of 581 BTC for $40 million, inclusive of fees and expenses.
Chairman Eric Semler emphasized Bitcoin’s potential to yield significant returns, likening it to digital gold as its acceptance grows.
Semler Scientific joins the ranks of companies adopting a Bitcoin-buying strategy for their corporate treasuries, inspired by the example set by software firm MicroStrategy. Led by founder and chairman Michael Saylor, MicroStrategy has acquired 214,000 BTC, currently valued at over $15 billion.
FAQs
What is the significance of Semler’s $150 million Bitcoin purchase?
Semler’s $150 million Bitcoin purchase is significant because it signals the company’s commitment to adopting Bitcoin as a treasury reserve asset, similar to MicroStrategy’s strategy.
Why did Semler decide to invest in Bitcoin?
Semler likely decided to invest in Bitcoin due to its potential as a store of value and hedge against inflation, as well as its ability to generate long-term returns.
For the latest in crypto updates, keep tabs on Crypto Data Space.
Leave a comment