Semler Scientific, a medical manufacturer listed on Nasdaq, made waves last month when it announced the addition of Bitcoin (BTC) to its treasury. The company has now revealed that it has purchased an additional $17 million worth of the digital asset and is considering raising up to $150 million to acquire more.
The news of Semler’s latest Bitcoin purchase was disclosed in an S-3 filing to the United States securities regulator on June 6. Following its initial purchase of 581 Bitcoin on May 28, the company now holds a total of 828 Bitcoin, valued at over $58.5 million.
Not wasting any time, Semler also announced its intention to raise an additional $150 million through debt securities, with a portion of the funds earmarked for further Bitcoin purchases. The company stated that the net proceeds from the securities offering will be primarily used for general corporate purposes, including acquiring Bitcoin.
CEO Doug Murphy-Chutorian highlighted that Semler’s Bitcoin investment strategy has become a top priority alongside its healthcare business. Bitcoin, now the company’s primary treasury reserve asset, is seen as a hedge against inflation and a safe haven in times of global instability.
Semler believes that Bitcoin’s digital and architectural resilience makes it a better alternative to gold, citing its potential for outsized returns as it gains acceptance as “digital gold.” The company emphasized that it has no plans to invest in any cryptocurrency assets other than Bitcoin.
Following the news of its May 28 Bitcoin purchase, Semler’s stock (SMLR) surged by 30%. However, on June 6, the stock saw a 2.5% decline to $29.13, according to Google Finance data.
In a similar move, Japan-based investment firm Metaplanet has also been following the Bitcoin investment trend set by companies like MicroStrategy. Having initially purchased $6.5 million worth of Bitcoin on April 8, Metaplanet has continued to make multiple Bitcoin purchases, totaling 117.7 Bitcoin or $8.3 million at current prices. The firm’s latest Bitcoin acquisition on May 22 contributed to it being the best-performing stock on the Tokyo Stock Exchange for two consecutive days.
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