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Semler Scientific Continues Bitcoin Investment
Semler Scientific, a medical manufacturer, has recently made a significant acquisition of Bitcoin, valued at $17 million. This move indicates the company’s growing interest in cryptocurrency as part of its investment strategy.
The company has hinted at the possibility of making further purchases, with plans to acquire an additional $15 million in funding. The most recent Bitcoin acquisition was disclosed on June 6 in an S-3 filing to the United States securities regulator. Semler now holds 828 Bitcoin, valued at over $58.5 million, after its initial purchase of 581 Bitcoin on May 28.
According to Semler, they are also looking to acquire $150 million in debt securities, with a portion of the funds earmarked for purchasing more Bitcoin. The company aims to use the net income generated from the sale of these securities for business needs while continuing to invest in Bitcoin.
Doug Murphy-Chutorian, Semler’s CEO, emphasized the company’s focus on Bitcoin investments alongside its core medical business. He believes that Bitcoin, with its growing adoption, offers significant return potential comparable to gold, if not higher. Semler’s exclusive focus is on Bitcoin, with no plans to invest in other cryptocurrencies.
The news of Semler’s Bitcoin acquisition on May 28 led to a 30% increase in the company’s stock. However, the stock price has since dipped by 2.5%, currently standing at $29.13.
Similar Trends in the Market
MetaPlanet, an investment firm based in Japan, is also actively involved in Bitcoin investment. The company initially purchased $6.5 million worth of Bitcoin on April 8 and has recently acquired an additional 117.7 Bitcoins, now valued at $8.3 million.
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