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Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

The firm currently holds 828 bitcoin and plans to expand its crypto treasury

The firm currently holds 828 bitcoin and plans to expand its crypto treasury

The firm currently holds 828 bitcoin and plans to expand its crypto treasury

AccessTimeIconJun 6, 2024, 10:25 PM
Updated Jun 7, 2024, 6:22 PM
  • Semler Scientific is continuing to add bitcoin to its treasury with a $17 million purchase and an announcement that it's raising $150 million so it can buy more.
  • Its May announcement of a $40 million bitcoin purchase drove the company's stock up 25%.

Publicly traded Semler Scientific (SMLR), a healthcare business that broadened its corporate strategy to also include buying bitcoin (BTC), said it's buying $17 million more of the digital currency and preparing to raise $150 million so it can purchase even more.

"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin," said Doug Murphy-Chutorian, MD, Semler Scientific's chief executive officer, in a release. "The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash."

Semler's 828 bitcoin were acquired for $57 million and are now worth $59 million, according to current market data from CoinDesk Indices.

Collectively, publicly listed companies hold 308,442 BTC worth approximately $21.8 billion on their balance sheets, according to bitcointreasuries.net.

Semler's announcement in late May that it was purchasing $40 million in bitcoin sent its stock up 25%.

SMLR closed the day down 2.5% in U.S. trading.

Edited by Nick Baker.

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