Bitcoin
Medical technology developer Semler Scientific puts additional $17 million into Bitcoin
Health technology developer Semler Scientific announced an additional purchase of 247 BTC for $17 million in cash.
Santa Clara-based health technology company Semler Scientific acquired an additional 247 BTC for $17 million in cash as part of its ongoing strategy to hedge against inflation risks.
According to a Press release on June 7, the acquisition brings Semler Scientific’s total Bitcoin reserves for 828 BTC, acquired at an aggregate cost of US$57 million. Commenting on the purchase, Semler Scientific chief executive Doug Murphy-Chutorian highlighted the company’s commitment to Bitcoin as an “attractive investment and reliable store of value.”
“We will continue to follow our strategy of purchasing Bitcoins with cash.”
Doug Murphy-Chutorian
The latest transaction follows a substantial purchase just a week earlier, where Semler Scientific acquired 581 BTC for $40 million, indicating an average price of approximately $68,850 per coin. Semler Scientific President Eric Semler emphasized Bitcoin’s potential as a scarce and finite asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.
“We also believe that its digital architectural resilience makes it preferable to gold, which has a market value approximately 10 times that of Bitcoin.”
Eric Semler
With this purchase, Semler Scientific now ranks 20th among public companies that have Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. The company surpasses crypto mining company Argo Blockchain, which holds 11 BTC, but lags behind Chinese software company Meitu, which holds 940.9 BTC.