Semler Scientific increased its bitcoin ( BTC) holdings with the purchase of an additional 47 bitcoins for an aggregate amount of $3 million. This brought its total bitcoin holdings to 1,058 bitcoins for a total purchase amount of $71 million.
Semler Scientific Acquires More Bitcoin, Despite Mixed Q3 Financial Results
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Semler Scientific Expands Bitcoin Holdings Amid a Rise in Income
Semler Scientific Inc., a company that focuses on technology products and services to combat chronic diseases released its Q3 financial results on Monday with the major addition of 47 bitcoin ( BTC) to its asset base. With this recent purchase, Semler Scientific currently owns 1,058 bitcoin at a total cost of $71 million, including fees and costs.
Eric Semler, chairman of Semler Scientific expressed confidence in bitcoin rising in value, “We are capitalizing on the opportunity to maximize stakeholder value by accumulating bitcoin. We plan to continue to purchase bitcoin with cash from operations and with cash proceeds from our sales under our ATM program. In addition, we are exploring additional financing opportunities that will enable us to acquire even more bitcoin.”
Semler’s additional investment in bitcoin was buoyed by the company’s strong performance with income of $5.1 million from operations in the third quarter.
Doug Murphy-Chutorian, MD/CEO of Semler Scientific re-echoed the company’s strategy to acquire more bitcoin, stating “We remain laser focused on acquiring and holding bitcoin, while supporting innovation and growth in our healthcare business.”
Semler’s bitcoin acquisition strategy closely mirrors that of Microstrategy‘s through direct cash purchases and external financing opportunities.
What do you think about Semler Scientific’s decision to invest in more bitcoin? Let us know in the comments section below.
