Semler Scientific, a medical manufacturer listed on Nasdaq, made waves recently by adding Bitcoin to its treasury. The company has now purchased an additional $17 million worth of the asset and is considering raising up to $150 million for further investments.
The latest Bitcoin purchase by Semler was disclosed in an S-3 filing with the United States securities regulator on June 6. Following its initial purchase of 581 Bitcoin on May 28, the company now holds a total of 828 Bitcoin, valued at over $58.5 million.
In a move to expedite its investment strategy, Semler announced plans to raise an additional $150 million through debt securities, with a portion of the funds earmarked for further Bitcoin purchases. The company stated that the proceeds from the securities offering will primarily be used for general corporate purposes, including acquiring more Bitcoin.
CEO Doug Murphy-Chutorian revealed that Bitcoin investments have become a key focus for Semler, alongside its healthcare business. The company views Bitcoin as a reliable hedge against inflation and a safe haven in times of global instability. Semler also highlighted the digital resilience of Bitcoin compared to traditional assets like gold, stating that Bitcoin has the potential for significant returns as it gains wider acceptance.
Semler emphasized that it has no intentions of investing in any other cryptocurrency besides Bitcoin. The company’s stock, which surged by 30% after the initial Bitcoin purchase, experienced a slight dip of 2.5% to $29.13 on June 6.
On a related note, billionaire investor Bill Miller and Japan-based investment firm Metaplanet have also shown interest in Bitcoin investments. Metaplanet, following a strategy similar to MicroStrategy, has purchased significant amounts of Bitcoin and experienced a boost in its performance on the Tokyo Stock Exchange.
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