3 weeks ago
Nasdaq-listed aesculapian exertion steadfast Semler Scientific has expanded its Bitcoin holdings by purchasing an further 83 BTC for $5.0 million, according to an Aug. 26 statement.
This acquisition brings the company’s full Bitcoin holdings to 1,012 BTC, acquired astatine a cumulative outgo of $68 million, including fees and expenses.
The company’s chairman, Eric Semler, explained that the acquisition was chiefly funded done currency generated from the firm’s operations and supplemented by funds from its at-the-market equity program.
He added:
“We are encouraged by the increasing organization adoption of Bitcoin. It was precocious reported that institutions present ain much than 20% of Bitcoin ETF assets nether management. We judge this expanding institutionalization volition thrust worth for some Bitcoin prices and our shareholders.”
Semler Bitcoin purchases
Semler Scientific began investing successful Bitcoin successful May erstwhile it acquired 581 BTC for $40 million.
Since then, the institution has continued its buying spree, purchasing 247 BTC for $17 cardinal connected June 6 and 49 BTC for $3 cardinal connected June 28. By Aug. 5, the steadfast had purchased an further 52 BTC for different $3 million.
Semler Scientific Bitcoin Buys (Source: Bitcoin Treasuries)With the latest purchase, Semler Scientific present ranks among the apical 20 firm Bitcoin holders, based connected Bitcoin Treasuries data.
In the 2nd 4th report, CEO Doug Murphy-Chutorian reaffirmed the company’s committedness to Bitcoin, emphasizing that it complements its healthcare concern strategy.
Institutional adoption
Semler’s increasing Bitcoin stash highlights the expanding assurance among companies successful utilizing the flagship integer plus arsenic a treasury reserve.
This trend, which was kicked disconnected by MicroStrategy successful 2020, has gained sizeable momentum this year, with different firms, similar Japan-based concern institution Metaplanet and publically listed DeFi Technologies, making important Bitcoin acquisitions.
In addition, the instauration of Bitcoin exchange-traded money (ETF) products has resulted successful a notable summation successful organization vulnerability to the emerging industry. Bitwise CIO Matt Hougan predicted that this inclination would further summation successful the coming years arsenic the manufacture continues to mature.
The station Nasdaq-listed Semler Scientific boosts Bitcoin holdings supra 1000 BTC to go apical 20 holder appeared archetypal connected CryptoSlate.
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