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Semler Scientific makes new purchase and reaches 1,000 Bitcoins
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Medical device company Semler Scientific has increased its Bitcoin (BTC) holdings by making a new purchase, this time for $3 million. As a result, the company reached a total of 1,058 BTC in cash.
The company released this new acquisition alongside its third-quarter earnings report, stating that it has added 47 Bitcoin since its previous update in late August. This news comes less than a week after Japan’s Metaplanet also reached the 1,000 BTC mark in custody.
In terms of investment, Semler’s BTC cash is worth $71 million at current prices. With Bitcoin currently trading at around $67,500, the company is almost at break-even.
According to Eric Semler, president of Semler Scientific, the company is committed to increasing its Bitcoin holdings.
Semler Scientific buys $3 million in Bitcoin
“We are capitalizing on the opportunity to maximize value for stakeholders by accumulating Bitcoin,” he said.
The company plans to use cash from operations, as well as proceeds from its on-market share sale program, to fund further Bitcoin purchases. With this, Semler adopts the same strategy initiated by MicroStrategy and followed by Metaplanet.
This shift toward digital assets represents a notable strategy for a healthcare-focused company. The company states that it intends to remain in the area of medical products, but that it will use Bitcoin to generate additional value for its shareholders.
In the last three months, Semler shares have risen 16% on the stock market, against a 29% appreciation for BTC in the same period.
As of September 30, Semler held 1,018 BTC, purchased for a cumulative total of $68 million. From there, the company added another 40 BTC, bringing its holdings to 1,058 BTC at a total purchase price of $71 million. All purchase prices include fees and expenses, according to company records.
Semler Scientific makes new purchase and reaches 1,000 Bitcoins
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Semler Scientific makes new purchase and reaches 1,000 Bitcoins
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Semler Scientific makes new purchase and reaches 1,000 Bitcoins
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Semler Scientific makes new purchase and reaches 1,000 Bitcoins
