Medical diagnostics company Semler Scientific has acquired an additional 47 BTC for $3 million since its last disclosure in August, bringing its total bitcoin holdings to 1,058 BTC.
Focus on Bitcoin
Semler Scientific unveiled its third-quarter financial results, showing $13.5 million in revenue, a 17% decrease. Despite the decline, the company remains 'laser-focused' on acquiring and holding bitcoin. According to the chairman, Eric Semler, this strategy aims to enhance value for stakeholders. CEO Doug Murphy-Chutorian commented: “We are pleased to report strong performance from our healthcare business with income from operations of $5.1 million in the third quarter. We remain laser-focused on acquiring and holding bitcoin.”
Corporate Bitcoin Investment Trend
In recent years, there has been a growing trend of companies investing in bitcoin as a strategic asset. MicroStrategy, led by former CEO Michael Saylor, is often credited with pioneering this trend. Saylor cited bitcoin as a more efficient store of value than cash. Following this lead, several companies, including Semler, have started adopting bitcoin as their primary treasury reserve asset.
Company Plans and Strategy
The California-based med-tech company began its strategy with an initial purchase of 581 bitcoins for $40 million. Semler plans to continue this approach without diversifying into other cryptocurrencies. The company thus becomes the 17th largest public holder of bitcoin.
The company continues its bitcoin investments, aiming to preserve and grow its assets, highlighting its confidence in bitcoin's potential as a strategic investment tool.
