The medical maker holds 828 bitcoins and claims it will “continue to pursue our strategy of purchasing Bitcoins with cash.”
Semler Scientific, a Nasdaq-listed medical manufacturer, made headlines when it added Bitcoin to its treasury. Recently, they have bought a cryptocurrency worth $17 million and are planning to buy more, reaching up to $150 million.
The news of buying recent bitcoins was disclosed on June 6 in a document to the United States Securities Regulator. Now they have a total of 828 Bitcoins after buying 581 Bitcoins on May 28, totaling over $58.5 million.
“[It underscores] 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 is not slowing down. They plan to take a loan of $150 million and will use some of that money to buy BTC.
The firm stated:
“We intend to use the net proceeds from the sale of any securities offered under this prospectus primarily for general corporate purposes, including the acquisition of bitcoin.”
Doug Murphy, CEO of the firm, said that the main goal of the company, along with the healthcare business, is now to invest in BTC.
Now Semsler’s main treasury reserve asset, BTC, can be used as a “reasonable inflation hedge and haven amid global instability,” as mentioned in its SEC filing by the firm.
“We also believe that its digital, architectural resilience makes it preferable to gold, which has a market value that greatly exceeds the market value of bitcoin,” Semler stated. “Given the gap in value between gold and bitcoin, we believe that bitcoin has the potential to generate outsize returns as it gains increasing acceptance as ‘digital gold.’”
The company repeated, that it “has no plans to purchase cryptocurrency assets other than bitcoin.”
Bitcoin Investments Impact Stock Performance
According to May 28 news, the stock of Semler (SMLR) rose by 30%. But based on data from Google Finance, it dropped by 2.5% to $29.13 on June 6 instead of of going up.
Metaplanet is a company in Japan that follows the method of MicroStrategy for investing in BTC.
On April 8, it bought BTC for $6.5 million, and since then it has further bought 117.7 bitcoins worth $8.3 million based on current prices.
Following its most recent buy of Bitcoin on May 22, Metaplanet was the best-performing stock on the Tokyo Stock Exchange for two days in a row.
