Semler Scientific, a healthcare technology developer based in Santa Clara, has announced an additional purchase of 247 BTC for $17 million in cash. This acquisition is part of the company’s ongoing strategy to hedge against inflation risks.

As per a press release on Jun. 7, this latest purchase brings Semler Scientific’s total Bitcoin reserves to 828 BTC, acquired at an aggregate cost of $57 million. Doug Murphy-Chutorian, CEO of Semler Scientific, highlighted the firm’s commitment to Bitcoin as a compelling investment and a reliable store of value.

“We will continue to pursue our strategy of purchasing Bitcoins with cash.”

The latest transaction follows a substantial purchase just a week earlier, where Semler Scientific acquired 581 BTC for $40 million. This indicates an average price of approximately $68,850 per coin. Eric Semler, chairman of Semler Scientific, emphasized Bitcoin’s potential as a scarce, finite asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.

“We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin.”

With this purchase, Semler Scientific now ranks 20th among public companies holding Bitcoin on their balance sheets. The firm surpasses Argo Blockchain, which holds 11 BTC, but falls behind Meitu, a Chinese software company holding 940.9 BTC.

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