Semler Scientific expands Bitcoin portfolio with $5m purchase

Semler Scientific has increased its Bitcoin holdings to over 1,000 BTC, demonstrating its continued confidence in the cryptocurrency as a strategic investment.

Medical technology company Semler Scientific is intensifying its Bitcoin strategy by purchasing an additional 83 BTC for $5 million, bringing its total holdings to 1,012 BTC at a total cost of $68 million including fees and expenses.

The Santa Clara-based health technology company, which specializes in chronic disease management solutions, announced in a press release on Monday, August 26, that it made the acquisition primarily with cash from operations and funds raised through its market equity program.

“We are encouraged by the increasing institutional adoption of Bitcoin. It was recently reported that institutions own more than 20% of Bitcoin ETF assets for the first time.”

Eric Semler, president of Semler Scientific

Semler Scientific Continues to Buy Bitcoin

Semler Scientific’s first foray into Bitcoin came in late May when the company announced it would purchase 581 BTC for $40 million.

At the time, Semler emphasized Bitcoin’s potential as a “reliable store of value” and a “compelling investment,” noting its scarcity and potential as an inflation hedge and safe haven amid global economic uncertainty. Semler also said at the time that the firm believed Bitcoin’s digital, architectural durability “makes it preferable to gold, which has a market cap of about 10 times Bitcoin.”

According to data from Bitcoin Treasuries, with the latest transaction, Semler Scientific has moved up to 17th place on the list of the world’s largest public companies holding Bitcoin on their balance sheets, surpassing American Bitcoin mining company Bit Digital, Inc.