Semler Scientific Inc. has increased its bitcoin holdings by acquiring an additional 83 BTC for $5 million.
Bitcoin Purchase
Semler Scientific Inc. announced the purchase of an additional 83 bitcoins for $5 million. With this acquisition, the total number of bitcoins owned by the company has reached 1,012 BTC, acquired at a total cost of $68 million, inclusive of fees and expenses.
Optimism and Institutional Adoption
The company expressed optimism about the increasing institutional adoption of bitcoin. Semler noted that it was recently reported that for the first time, institutions own more than 20% of bitcoin ETF assets under management. "We are encouraged by the growing institutional adoption of bitcoin... We believe this increasing institutionalization will drive value for both bitcoin prices and for our stockholders."
Bitcoin Strategy Reasons
Eric Semler, chairman of Semler Scientific, explained that additional bitcoins were acquired primarily using cash from operations as well as capital raised through the company's at-the-market equity program. The company adopted the bitcoin strategy this year, underscoring its belief that bitcoin is a reliable store of value and a compelling investment.
Semler Scientific sees bitcoin as an important asset and continues to increase its holdings amid growing institutional interest.
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