Semler Scientific acquires additional 83 Bitcoins increasing total holdings to 1012 BTC

Semler Scientific, a healthcare firm that has adopted a Bitcoin treasury strategy, purchased an additional 83 Bitcoins (BTC), increasing its total holdings to 1012 BTC, the company shared in a Monday press release.

The healthcare-focused technology firm acquired the additional BTC for $5 million in cash, which includes fees and expenses amid growing institutional interest in the leading crypto. The post stated that as of August 26, 2024, the firm now holds a total of 1,012 bitcoins, which were purchased for $68.0 million, including fees and expenses.

We raised capital through our at-the-market equity program and used cash from operations to purchase additional bitcoins," stated Eric Semler, chairman of Semler Scientific.

Semler said the increasing institutional adoption of Bitcoin encourages us. Institutions now own more than 20% of bitcoin ETF assets under management, according to a recent report. We think that as institutionalization grows, the value of Bitcoin prices and that of our stockholders' will rise.

On August 6, the firm said it will keep buying Bitcoins with funds from operations and sales of a shelf registration statement. The company started buying Bitcoin on May 28 and paid $40 million for 581 BTC in total. In June, Semler Scientific made two Bitcoin investments: on June 6 and June 28.

Semler Scientific has now surpassed Bit Digital, Inc., an American Bitcoin mining company. The healthcare firm now holds the 17th position on the list of the top public companies worldwide that hold Bitcoin on their balance sheet, according to data from Bitcoin Treasuries.

 MicroStrategy is the source of inspiration for Semler Scientific's Bitcoin strategy. In a similar vein, Metaplanet, a publicly traded Japanese company well-known for its steady purchases of Bitcoin since the beginning of this year, admits to the cryptocurrency's extreme volatility but views it as a chance for further expansion and liquidity.

The price of Bitcoin fell 0.97% to $63,559.29 in the last 24 hours, and its trading volume increased by 28.63% to $25.33 billion as of the time of writing, according to CoinMarketCap.

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