Key Points
- Semler Scientific is prioritizing Bitcoin acquisition, aiming for $150M in acquisitions.
- The firm’s total Bitcoin holdings now stand at 828, valued at over $58.5 million.
Semler Scientific (SMLR), a manufacturer of medical devices, is currently focusing on acquiring Bitcoin. The company, which is known for its QuantaFlo diagnostic tool, has made Bitcoin its primary treasury asset. Since making this decision, Semler has significantly increased its Bitcoin holdings and is potentially planning to spend up to $150 million on further acquisitions.
This aggressive strategy was disclosed in a recent S-3 filing with the US Securities and Exchange Commission (SEC). The filing outlines Semler’s purchase of an additional $17 million in Bitcoin, following its initial purchase of 581 Bitcoins on May 28. With this latest acquisition, Semler’s total Bitcoin holdings now amount to 828, currently valued at over $58.5 million.
Semler’s Confidence in Bitcoin
Semler’s latest actions underscore its firm belief in the potential of Bitcoin. According to a company statement, Bitcoin has demonstrated its status as a compelling investment and reliable store of value. The company stated: “We will continue to actively pursue our strategy of acquiring Bitcoin with available cash.”
Semler is backing its words with action. The company announced the potential issuance of $150 million in debt securities, specifically allocated towards further Bitcoin purchases. This indicates that the firm may have positioned Bitcoin as a top priority, possibly on par with its core healthcare business.
It’s important to note that Semler’s recent moves are driven by its view of Bitcoin as an effective hedge against inflation. The firm believes that Bitcoin holds an edge over traditional assets like gold, primarily due to its significantly lower market value. Semler stated: “Given the significant gap between Bitcoin’s and gold’s value, we believe Bitcoin has the potential for substantial returns as its adoption as ‘digital gold’ continues to grow.”
Interestingly, Semler’s interest in cryptocurrency does not extend to other crypto assets. The firm has clearly stated that it has no plans of investing in any other type of cryptocurrency.
A Widespread Phenomenon
Semler now counts Bitcoin as its primary treasury reserve asset. However, this move is reflective of a broader trend among multinational companies. Many of these firms are also turning to Bitcoin for financial security.
MicroStrategy and Japan-based investment firm Metaplanet are two such examples. These firms have been making aggressive Bitcoin purchases and show no signs of stopping in the near future.
