Blockchain
Medical technology developer Semler Scientific invests another $17 million in Bitcoin
Healthcare technology developer Semler Scientific announced an additional purchase of 247 BTC for $17 million in cash.
Santa Clara-based healthcare technology company Semler Scientific has acquired an additional 247 BTC for $17 million in cash as part of its ongoing strategy to hedge against inflation risks.
According to Press release on June 7, the acquisition brings Semler Scientific’s total Bitcoin reserves at 828 BTC, purchased at a total cost of $57 million. Commenting on the purchase, Semler Scientific CEO Doug Murphy-Chutorian highlighted the company’s commitment to Bitcoin as a “compelling investment and reliable store of value.”
“We will continue to pursue our strategy of buying Bitcoin in cash.”
Doug Murphy-Chutorian
The latest transaction follows a substantial purchase that occurred just a week earlier when Semler Scientific acquired 581 BTC for $40 million, indicating an average price of around $68,850 per coin. Semler Scientific President Eric Semler highlighted Bitcoin’s potential as a scarce and limited asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.
“We also believe its digital and architectural resilience makes it preferable to gold, which has a market value approximately 10 times that of Bitcoin.”
Eric Semler
With this purchase, Semler Scientific now ranks 20th among public companies that hold Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. The company surpasses cryptocurrency mining firm Argo Blockchain, which holds 11 BTC, but lags behind Chinese software company Meitu, which holds 940.9 BTC.