Semler Scientific, a healthcare tech developer based in Santa Clara, has recently expanded its Bitcoin holdings with the purchase of 247 BTC for $17 million in cash. This acquisition is part of the company’s ongoing strategy to hedge against inflation risks, bringing their total Bitcoin reserves to 828 BTC purchased at an aggregate cost of $57 million. The chief executive of Semler Scientific, Doug Murphy-Chutorian, expressed the firm’s strong belief in Bitcoin as a compelling investment and a reliable store of value.
In a press release on Jun. 7, Murphy-Chutorian stated that Semler Scientific will continue their strategy of purchasing Bitcoins with cash, emphasizing their confidence in the digital currency. Just a week prior to this acquisition, the company bought 581 BTC for $40 million, indicating an average price of approximately $68,850 per coin. Eric Semler, the chairman of Semler Scientific, highlighted Bitcoin’s potential as a scarce, finite asset that can serve as a hedge against inflation and a safe haven during times of global instability, comparing it favorably to gold in terms of digital and architectural resilience.
With this recent purchase, Semler Scientific now ranks 20th among public companies holding Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. While the company exceeds crypto mining giant Argo Blockchain in terms of BTC holdings, they still lag behind Chinese software firm Meitu, which holds nearly 941 BTC. This move reflects Semler Scientific’s confidence in Bitcoin as a long-term investment and their commitment to diversifying their financial assets in the face of economic uncertainties.
As the market for cryptocurrencies continues to evolve and gain mainstream acceptance, Semler Scientific’s decision to invest in Bitcoin showcases the growing interest in digital assets among traditional companies. By expanding their Bitcoin holdings and positioning themselves as a key player in the cryptocurrency space, Semler Scientific is demonstrating foresight and adaptability in navigating the changing financial landscape. With their commitment to leveraging Bitcoin as a strategic asset, Semler Scientific is poised to capitalize on the potential growth and stability offered by this innovative digital currency.
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