Semler Scientific makes another substantial purchase of Bitcoin

Semler Scientific, a medical manufacturer, has made another substantial acquisition of Bitcoin, valued at $17 million. There is a high likelihood that the company will make additional purchases. For the fresh purchase, the company intends to acquire $15 million in funding.

On June 6, Semler disclosed his most recent Bitcoin acquisition in an S-3 filing to the United States securities regulator. It currently possesses 828 Bitcoin, which are valued at over $58.5 million, following its initial purchase of 581 Bitcoin on May 28.

According to the company’s information, it intends to acquire another $150 million in debt securities, with a portion going towards purchasing additional bitcoin. Their aim is to utilize the net income coming from the sale of securities falling under this policy for business needs while also keeping the acquisition of bitcoin well within the picture. 

According to Semler’s CEO, Doug Murphy-Chutorian, the company is also concentrating on investing in bitcoin, along with the medical side.

The company believes that the digital asset is on par with gold, if not more so, in terms of generating significant returns, as a result of its widespread adoption as of the present. They allocate their attention exclusively to bitcoin and no other cryptocurrency.

The news of Semler’s (SMLR) acquisition on May 28 caused a 30% increase in the company’s stock. Thereafter, it dipped by 2.5%, standing at $29.13. 

MetaPlanet, an investment firm headquartered in Japan, is currently engaged in a comparable endeavor. Initially, it acquired $6.5 million worth of Bitcoin on April 8. Subsequently, it has acquired an additional 117.7 bitcoins, which are currently valued at $8.3 million.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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