Semler Scientific, a healthcare tech developer based in Santa Clara, has announced an additional purchase of 247 BTC for $17 million in cash. This acquisition is part of the company’s ongoing strategy to hedge against inflation risks. The latest purchase brings Semler Scientific’s total Bitcoin reserves to 828 BTC, acquired at an aggregate cost of $57 million.
In a press release dated June 7, Doug Murphy-Chutorian, CEO of Semler Scientific, expressed the firm’s commitment to Bitcoin. He described it as a compelling investment and a reliable store of value. “We will continue to pursue our strategy of purchasing Bitcoins with cash,” he stated.
This transaction follows a significant purchase just a week prior. Semler Scientific acquired 581 BTC for $40 million, indicating an average price of approximately $68,850 per coin. Eric Semler, the company’s chairman, highlighted Bitcoin’s potential as a scarce, finite asset. He emphasised its role as a hedge against inflation and a safe haven amid global instability.
“We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin,” Eric Semler added.
With this purchase, Semler Scientific now ranks 20th among public companies holding Bitcoin on their balance sheets. According to BitcoinTreasuries.NET, the firm surpasses crypto mining company Argo Blockchain, which holds 11 BTC. However, it falls behind Chinese software company Meitu, which holds 940.9 BTC.
Semler Scientific’s move underscores the growing trend of traditional companies investing in Bitcoin. The firm’s proactive approach in leveraging cryptocurrency as a financial strategy marks a significant step in integrating digital assets into mainstream corporate finance.
