Semler Scientific Acquires More Bitcoin, Citing Institutional Adoption Growth

Semler Scientific Expands Bitcoin Holdings Amid Growing Institutional Interest

Semler Scientific Inc., a company that focuses on developing technology to combat chronic diseases, announced on Monday that it has purchased additional 83 bitcoins for $5 million. With this acquisition, Semler Scientific now holds 1,012 BTC, acquired at a total cost of $68 million, inclusive of fees and expenses.

The company expressed optimism about the increasing institutional adoption of bitcoin. “It was recently reported that for the first time, institutions own more than 20% of bitcoin ETF assets under management,” Semler noted, highlighting:

We are encouraged by the growing institutional adoption of bitcoin … We believe this increasing institutionalization will drive value for both bitcoin prices and for our stockholders.

Eric Semler, chairman of Semler Scientific, explained that additional bitcoins were acquired using “primarily cash from operations as well as capital raised through our at-the-market equity program.”

The company adopted the bitcoin strategy this year. “Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” Semler previously stated. “ Bitcoin is now a major asset class with more than $1 trillion of market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.”

What do you think about Semler Scientific’s decision to invest in more bitcoin? Let us know in the comments section below.