Santa Clara-based healthcare technology company Semler Scientific (SMLR) recently revealed that it purchased an additional 47 bitcoin (btc), bringing its total holdings to 1,058 btc.
Semler Scientific continues to increase its btc holdings
Semler Scientific, a Nasdaq-listed healthcare manufacturer, announced that it purchased an additional 47 btc for $3 million. This acquisition comes as bitcoin remains approximately 7% below its all-time high (ATH) value.
The firm accumulated 141 btc between July and September for 8.4 million dollars. The last purchase of 47 btc was made between the end of September and November 4, according to the company's Q3 2024 report.
The acquisition, valued at $3 million, has increased Semler Scientific's total holdings to 1,058 btc. The company indicated that it plans to continue purchasing btc.
Commenting on the development, Doug Murphy-Chutorian, CEO of Semler Scientific, said:
We remain focused on acquiring and holding bitcoin, while supporting innovation and growth in our healthcare business.
Semler Scientific embarked on its btc acquisition journey in May 2024, when it purchased 581 btc for $40 million. Later in September, the firm aggregate 83 btc to their reserves – purchased for $5 million.
The company appears to be following a similar strategy to MicroStrategy (MSTR). Eric Semler, president of Semler Scientific, suggested that the company is exploring additional financing opportunities to acquire more btc, mirroring MicroStrategy's approach.
Despite this, the performance of Semler Scientific shares No align with MSTR's trajectory. SMLR closed at $29.97 on November 5, down 2.31% on the day. Although the stock is up 8.31% over the past six months, it is still down 32.16% year-to-date (YTD).
In contrast, MSTR is up a notable 225.44% so far this year. In the last six months, the share price has risen 75.75%, although the stock has taken a beating in the last month, falling 15.47%.
Semler's Q3 2024 report shows its net income increased to $5.6 million, up from $5.5 million in Q3 2023.
Company bitcoin Reserves Becoming a Common Trend
In addition to Semler Scientific, MicroStrategy, and Tesla, an increasing number of companies are gradually adapting to the idea of holding a btc reserve.
More recently, the Japanese company Metaplanet announced which had pocketed another 108 btc, bringing the company closer to its ambitious goal of owning 1,000 btc.
This trend of adding btc to corporate balance sheets is not surprising, as several experienced analysts have expressed optimism about btc's long-term prospects.
For example, analysts at the research firm Bernstein recently provided btc reaching $200,000 by the end of 2025 is a “conservative” estimate. btc is trading at $69,236 at press time, up 0.9% in the last 24 hours.
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