Semler Scientific has announced the purchase of an additional $5 million worth of Bitcoin, bringing its total investment to $83 million.
New Bitcoin Purchase
According to a Thursday press release, Semler Scientific purchased $5 million worth of Bitcoin. The head of the company, Eric Semler, stated that the purchase was made using primary cash from the company's operations. He noted the growing institutional adoption of Bitcoin and expressed confidence that its price will rise in the future.
Company's Previous Investments
In early June 2023, Semler Scientific first drew attention to its new strategy by purchasing $17 million worth of Bitcoin, following the example of MicroStrategy. The new strategy was introduced alongside the company’s core healthcare business.
Overall Trend in Corporate Bitcoin Adoption
MicroStrategy remains the leading publicly listed company by total Bitcoin holdings, which currently exceed $14.4 billion. Other major corporate holders of Bitcoin include Marathon Digital, Tesla, Coinbase, Galaxy Digital, and mining companies such as Riot Platforms and Hut 8 Mining. Corporate Bitcoin adoption is not limited to North America. In Japan, Metaplanet, known as the local equivalent of MicroStrategy, also purchased Bitcoin this month. Despite MicroStrategy's success, corporate Bitcoin adoption is still in its infancy.
Semler Scientific’s investment in Bitcoin highlights the growing trend of corporate cryptocurrency adoption, although the process is still in its early stages.
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