Semler Scientific Holds 828 BTC, Plans to Invest $150M to Acquire More

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As part of its new treasury strategy, Semler Scientific currently holds 828 BTC and plans to invest $150M to buy more. 

Nasdaq-listed medical manufacturer Semler Scientific, which garnered attention last month for adding bitcoin (BTC) to its treasury, has now purchased an additional $17 million worth of the digital asset. The company may also raise $150 million to acquire more.

The firm’s latest Bitcoin purchase was disclosed in an S-3 filing to the United States securities regulator on June 6. Following its initial acquisition of 581 BTC on May 28, the company now holds 828 Bitcoins, valued at over $58.5 million, including fees and expenses.   

“[It underscores] our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash,” the official release stated.    

Semler Intends to Acquire More BTC with $150 Million

The healthcare company noted that it is taking a proactive stance. The firm announced it could raise an additional $150 million through debt securities, with a portion of the proceeds intended to purchase more bitcoin.  

The firm further stated that it intends to use net proceeds from the sale of any securities offered under the prospectus primarily for general corporate purposes, such as purchasing bitcoin.  

“We may offer and sell securities from time to time in one or more offerings, up to an aggregate value of $150,000,000. This prospectus describes the general terms of these securities and the general manner in which these securities will be offered. We will provide the specific terms of these securities in supplement to this prospectus,” the firm wrote.   

Semler’s Bitcoin Investment Strategy 

In a statement on June 6, the firm’s CEO, Doug Murphy-Chutorian, emphasized that Semler’s Bitcoin investment strategy has become a top priority for the company, alongside its healthcare business, providing a clear endorsement of the strategy.  

In its SEC filing, the firm stated that Bitcoin, now Semler’s primary treasury reserve asset, can serve as a “reasonable inflation hedge and a safe haven amid global instability.” 

Meanwhile, Semler Scientific, Inc. develops, manufactures, and markets innovative products and services to combat chronic diseases. Its flagship product, QuantaFlo, is patented and cleared by the U.S. Food and Drug Administration (FDA).