Semler Scientific, a medical manufacturer listed on Nasdaq, recently made waves by incorporating Bitcoin (BTC) into its treasury. The company has now acquired an additional $17 million worth of the cryptocurrency and is considering raising up to $150 million for further purchases.
The announcement of Semler’s latest Bitcoin acquisition was disclosed in an S-3 filing to the US 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 revealed its plans to raise $150 million through debt securities, with a portion of the funds earmarked for additional Bitcoin acquisitions. The firm emphasized that the net proceeds from the securities offering will primarily be used for general corporate purposes, including the acquisition of Bitcoin.
In a statement on June 6, Semler’s CEO, Doug Murphy-Chutorian, highlighted that the company’s Bitcoin investment strategy has become a top priority alongside its healthcare business. Bitcoin now serves as Semler’s primary treasury reserve asset, providing a hedge against inflation and a safe haven in times of global uncertainty.
The company expressed its belief that Bitcoin’s digital and architectural resilience makes it a more attractive investment compared to gold. Semler stated that with the growing acceptance of Bitcoin as ‘digital gold,’ it has the potential to generate significant returns.
Semler reiterated that it has no plans to invest in other cryptocurrencies besides Bitcoin. Following the news of its May 28 purchase, Semler’s stock (SMLR) surged by 30%. However, on June 6, the stock saw a slight decline of 2.5% to $29.13, according to Google Finance data.
In a similar move, Japan-based investment firm Metaplanet has also adopted a Bitcoin investment strategy inspired by MicroStrategy. Since its initial purchase of $6.5 million worth of Bitcoin on April 8, Metaplanet has made multiple acquisitions, totaling 117.7 Bitcoin or $8.3 million at current prices. The firm’s recent Bitcoin purchase on May 22 propelled it to become the best-performing stock on the Tokyo Stock Exchange for two consecutive days.
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