- Semler Scientific has acquired an additional Bitcoin.
- The company said its latest BTC investment was inspired by the crypto asset’s growing institutional adoption.
- The purchase brought the company’s BTC holdings to $68 million.
On August 26, medical tech company Semler Scientific announced an additional Bitcoin purchase worth millions, underscoring the crypto asset’s growing institutional adoption.
Semler Scientific’s interaction with Bitcoin started in May when it bought 581 BTC for $40 million, including fees and expenses. Terming it a “compelling investment,” the company lauded BTC as a “scarce and finite asset,” offering a reasonable inflation hedge and “safe haven” amid global instability.
Semler Scientific’s Latest Bitcoin Acquisition
Per the official press release, the Santa Clara-based medical tech company has acquired an additional 83 BTC for $5 million in cash, including fees and expenses.
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Semler Scientific chairman Eric Semler stated that the company bought additional Bitcoin primarily using cash from its operations and funds raised through its “at-the-market equity” program.
“We are encouraged by the growing institutional adoption of bitcoin. It was recently reported that for the first time, institutions own more than 20% of bitcoin ETF assets under management. We believe this increasing institutionalization will drive value for both bitcoin prices and for our stockholders,” Semler said.
The latest acquisition brought Semler Scientific’s Bitcoin holdings to 1,012 BTC, bought at an aggregate amount of $68 million. Per Bitcoin Treasury data, this ranks Selmer Scientific at position 17 in the list of top public companies globally with BTC holdings.
MicroStrategy stands at the top of the list, with over 1% of the entire Bitcoin supply in its treasury.
Stay updated on last week’s inflows into Bitcoin funds:
Bitcoin Leads Crypto Funds’ Inflows with $543M Amid Rate Cut Expectations
Read how Ethereum ETFs ended their debut month:
Ethereum ETFs Wrap Up Their Debut Month: Are Results Promising?
