Key Points
- Semler Scientific has purchased 247 bitcoins, planning a $150 million fundraise for more.
- The healthcare tech firm currently holds 828 bitcoins, valued at approximately $59 million.
Semler Scientific, a healthcare technology company listed on Nasdaq, recently bought 247 bitcoins. The purchase, which cost $17 million, is part of a larger strategy to expand the firm’s bitcoin holdings.
Bitcoin Acquisition and Fundraising Plans
The company’s total bitcoin stash now stands at 828 coins, initially acquired for an aggregate of $57 million. With the current value of bitcoin, Semler’s portfolio is worth nearly $59 million.
CEO Doug Murphy-Chutorian stated that the firm’s dual focus remains on growing its healthcare business and acquiring and holding bitcoin. Semler Scientific plans to continue buying bitcoins using cash.
Future Investment Strategy
In an S-3 filing with the U.S. Securities and Exchange Commission, Semler Scientific outlined plans to raise an additional $150 million through debt securities. The firm intends to use a portion of these funds to buy more bitcoin.
The filing highlighted the company’s belief in bitcoin’s unique attributes as a finite asset that could serve as a hedge against inflation and a safe haven amid global instability. The company, however, does not plan to invest in other types of cryptocurrencies.
The volatility of bitcoin was also acknowledged in the filing, with the company noting that future price fluctuations could lead to a decrease in the value of their bitcoin holdings.
Semler Scientific’s stock closed down 2.48% on Thursday, with a further 1.17% drop in after-hours trading.
According to data from BitcoinTreasuries.net, public companies globally hold a total of 308,689 bitcoins, with Microstrategy, Inc. leading the pack with 214,400 bitcoins.