Institutional crypto investment continues to rise as Semler Scientific buys an additional $5M in Bitcoin, totaling 1,012 BTC.
Amid growing institutional interest and adoption of crypto, healthcare technology company Semler Scientific has purchased 81 BTC for $5 million via a press release, bringing its total holdings to 1,012 BTC.
The purchase was primarily funded through cash raised from the company’s at-the-market equity program. This latest acquisition is part of the company’s strategy to add Bitcoin to its portfolio, mirroring the approach of MicroStrategy, a leader in corporate Bitcoin adoption.
Semler Scientific’s BTC Investment History
Semler Scientific, which specializes in developing technology products and services to combat chronic diseases, expanded its Bitcoin holdings recently. In May, the company invested $40 million in 654 BTC, followed by a $17 million purchase of 247 BTC in June. Earlier this month, Semler added 101 BTC to its holdings for $6 million.
The company’s CEO, Doug Murphy-Chutorian, has emphasized Semler’s dual interest in expanding its healthcare business and acquiring Bitcoin. The CEO added in a June report that the firm will continue to pursue the strategic acquisition of bitcoins.
Data from Bitcoin Treasuries shows that with its latest purchase of 81 BTC, Semler Scientific is now ranked 17th among the world’s top public companies with significant Bitcoin reserves. Bit Digital, a leading United States-based Bitcoin mining company, trails behind as 18th.
More Institutions Adopt Crypto
Semler Scientific’s Bitcoin investment is part of a growing trend among public companies recognizing the potential benefits of holding cryptocurrency as a reserve asset and hedge against inflation. MicroStrategy, which has purchased over 225,000 bitcoins worth billions of dollars since 2020, has seen its market value increase dramatically.
Other public companies, including MARA, Metaplanet, and several others, have joined the ranks of those investing in Bitcoin, recognizing its potential as a valuable reserve asset and inflation hedge. As more firms adopt this strategy, the trend of adding Bitcoin to corporate balance sheets continues to gain momentum.”
As more firms follow suit, Bitcoin’s qualification as a store of value and medium of exchange continues to grow. Semler Scientific’s latest purchase highlights its confidence in Bitcoin’s long-term potential and its commitment to being at the forefront of this new technology.
