Semler Scientific makes new purchase and reaches 1,000 Bitcoins mark

Healthcare technology company Semler Scientific has made a new purchase and added 83 Bitcoins (BTC) to its portfolio. This operation, which cost US$5 million, made the company surpass the 1,000 BTC mark under custody.

In May, as reported by Todaysgist, the company began its strategy by purchasing 581 BTC for around US$40 million. Since then, the company’s BTC cash has almost doubled, as the pace and quantity of purchases have increased.

However, this time the operation did not cause strong increases in Semler (SMLR) shares as in other times. The company’s shares registered an increase of 0.14% this Monday (26), worth US$ 29.34.

Semler Scientific buys 83 Bitcoin

The latest acquisition, as reported in a press release, reflects Semler’s commitment to Bitcoin. According to a recent press release, the company has purchased another 83 BTC, worth $5 million.

Notably, this latest purchase increased the company’s total BTC holdings to 1,012 BTC, which were acquired for a total of $68 million. The purchase was primarily funded by cash generated from operations, along with proceeds from the company’s share sale program.

Semler Scientific President Eric Semler highlighted the growing institutional adoption of Bitcoin and said that the growing interest from institutions is helping the company expand its holdings. Semler noted that more than 20% of Bitcoin ETFs are held by large investors, demonstrating the growing acceptance of BTC as a legitimate asset.

He believes this trend will drive Bitcoin prices higher while creating value for Semler shareholders.

BTC price amid growing institutional interest

Semler previously announced plans in July to further increase its Bitcoin reserves through share sales. The company aimed to attract new shareholders, as well as bolster interest from existing ones, and raise cash to buy more BTC.

Meanwhile, Semler Scientific’s decision to invest heavily in Bitcoin comes at a time when the cryptocurrency is gaining traction among financial institutions. ETFs launched in January have helped large funds start to include BTC in their portfolios.

By bolstering its Bitcoin holdings, Semler Scientific is positioning itself to benefit from the anticipated long-term growth in Bitcoin’s value, driven by increasing demand and limited supply.

However, despite the positive news, BTC price is down 1.22% and is worth $63,403, while its trading volume has soared 18% to $22.74 billion.

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