Nasdaq-listed medical technology company Semler Scientific has purchased an additional 83 BTC for $5 million, aiming to expand its BTC holdings, according to an announcement on August 26.
The acquisition brings the company’s total BTC holdings to 1,012, with a cumulative cost of $68 million, including fees and expenses.
The company’s chairman, Eric Semler, explained that the acquisition was funded primarily from cash generated from the company’s operations, supplemented by funds from its on-site equity program.
“We are pleased with the growing institutional adoption of BTC, with recent reports suggesting that institutions now manage more than 20% of BTC ETF assets. We believe this institutional buildup will drive BTC price growth,” Semler added.
Semler Scientific began investing in BTC in May this year, when it acquired 581 BTC for $40 million.
Since then, the company has continued its buying spree, purchasing 247 BTC for $17 million on June 6 and 49 BTC for $3 million on June 28. By August 5, the company had purchased another 52 BTC for $3 million.
According to BTC Treasury data, Semler Scientific has now ranked among the top 20 corporate BTC holders after its latest purchase of BTC.
In the second quarter report, CEO Doug Murphy-Chutorian reiterated the company's commitment to BTC, emphasizing that BTC complements the company's healthcare business strategy.
Semler's growing BTC reserves highlight the company's growing confidence in using the flagship digital asset as a reserve fund.
This trend was first kicked off by Micro Strategy in 2020, and this year other companies such as Japanese investment company Metaplanet and listed company DeFi Technologies have made major acquisitions in BTC.
In addition, the launch of BTC ETF products has also significantly increased institutional investment in this emerging industry. Bitwise CIO Matt Hougan predicts that this trend will further intensify in the coming years as the BTC industry continues to mature.
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