Semler Scientific has expanded its Bitcoin holdings to over 1,000 BTC, indicating continued confidence in cryptocurrency as a strategic investment.

Semler Scientific, a medical tech company, is intensifying its Bitcoin strategy with the purchase of an additional 83 BTC for $5 million. This raises its total holdings to 1,012 BTC at a cumulative cost of $68 million, including fees and expenses.

In a Monday press release on Aug. 26, the Santa Clara-based healthcare technology company, which specializes in chronic disease management solutions, stated it made the purchase primarily using cash from operations, supplemented by funds raised through its at-the-market equity program.

“We are encouraged by the growing institutional adoption of Bitcoin. It was recently reported that for the first time, institutions own more than 20% of Bitcoin ETF assets under management.”

Eric Semler, chairman of Semler Scientific

Semler Scientific Keeps Buying Bitcoin

Semler Scientific’s initial foray into Bitcoin occurred in late May when the company acquired 581 BTC for $40 million.

At the time, Semler emphasized Bitcoin’s potential as a “reliable store of value” and a “compelling investment,” citing its scarcity and potential as an inflation hedge and safe haven amid global economic uncertainty. Semler also highlighted the digital, architectural resilience of Bitcoin, making it preferable to gold, which has a market value approximately 10 times that of Bitcoin.

With the latest transaction, Semler Scientific ranks 17th among the top public companies worldwide that hold Bitcoin on their balance sheet, surpassing American Bitcoin mining company Bit Digital, Inc., according to data from Bitcoin Treasuries.

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