Semler Scientific Remains Bullish With 828 Bitcoin in Holdings – Plans For More Accumulation

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The medical manufacturing firm Semler Scientific aims to set Bitcoin as its primary treasury asset. The company currently holds 828 BTC, which it has accumulated over time. According to the latest report, it plans to invest an additional $150 million in BTC. 

Semler Scientific Plans To Remain Bullish on BTC

The medical manufacturing company Semler Scientific recently made waves in the industry by going bullish on Bitcoin.

It recently acquired an extra $17 million worth of BTC tokens and disclosed the newest acquisition in an S-3 filing to the US Securities and Exchange Commission on June 3.

The company report shows it made its first Bitcoin purchase of 581 on May 28. Currently, it holds 828 BTC tokens worth over $58.5 million at market prices. Moreover, in its filing, Semler mentioned that it sees Bitcoin as a compelling investment option and recognizes the asset’s potential as a store of value.

As such, the company indicated its willingness to deepen its exposure to BTC with more purchases, stating, “We will continue to pursue our strategy of purchasing bitcoins with cash.

Additionally, Semler announced its plans to generate additional debt securities worth $150 million by frequently selling securities. According to the firm, it will direct part of the proceedings from such sales to more Bitcoin acquisitions and has no plans to engage in other crypto assets. 

Also, Semler’s CEO, Doug Murphy-Chutorian, released a statement on June 6 regarding the firm’s Bitcoin investment strategy. Per the statement, the firm now focuses on Bitcoin investment in addition to its primary business, which is healthcare.

Semler’s stock (SMLR) rallied by 30% following the news of its previous Bitcoin acquisition. However, the stock recorded an opposite trend at the latest purchase.

Companies Adopting Bitcoin As Primary Treasury Reserve Asset

MicroStrategy is the most prominent company that adopts Bitcoin as its primary treasury reserve asset. 

The company revealed its sales of senior convertible notes worth $1.2 billion, part of which was used to aid its BTC investments. Between February 26 and March 10, 2024, the company used about $821.7 million to acquire 12,000 BTC. 

According to a Bloomberg report, MicroStrategy has about 214,400 BTC tokens in its holdings as of April 26, 2024. Secondly, a Japanese investment firm, Metaplanet, imitating MicroStrategy in Bitcoin adoption, made its first Bitcoin purchase, $6.5 million, on April 8. 

Afterward, Metaplanent completed other BTC investment transactions. Currently, Metaplanet has 117.7 BTC tokens worth about $8.3 million. The firm emerged as the best-performing stock on the Tokyo Stock Exchange for two consecutive days after its BTC acquisition on May 22.

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