Semler doubles down on the MicroStrategy playbook with $150 million in Bitcoin purchases.

Medical technology company Semler Scientific has doubled its purchasing plans. bitcoin It purchased an additional $17 million worth of BTC for the Treasury and announced plans to purchase up to $150 million more.

In a press release, the company stated that it acquired 247 BTC for a total of $17 million in cash, including fees and expenses. This purchase brings total Bitcoin holdings to 828 BTC, worth nearly $59 million at current prices.

“Semler remains focused on two strategies: expanding our healthcare business and acquiring and holding Bitcoin,” CEO Semler said. Doug Murphy-Chutorian In a statement accompanying the release. He added that the company views Bitcoin as a “strong investment” that can serve as a “trusted store of value.”

Murphy-Chutorian stated that Semler will continue to pursue his Bitcoin purchasing strategy. in The company, which filed a Form S-3 with the U.S. Securities and Exchange Commission (SEC), plans to raise up to $150 million through the sale of debt securities, with the proceeds to be used for “general corporate purposes,” including the acquisition of Bitcoin. He said he had a plan. “

Semler Scientific stock (SMLR) rose 3.06% to $30.02 in pre-market trading Friday.

Semler Scientific’s Bitcoin Strategy

Medical device manufacturer Semler Scientific first announced plans to adopt Bitcoin as its “primary treasury reserve asset,” purchasing 581 BTC for $40 million, including fees and expenses.

At the time, the company’s chairman, Eric Semler, claimed that Bitcoin “has the potential to generate huge returns as it becomes increasingly accepted as digital gold.”

Semler Scientific is one of several companies that have adopted a strategy of purchasing Bitcoin with corporate funds, following in the footsteps of software company MicroStrategy. MicroStrategy, under the leadership of founder and chairman Michael Saylor, purchased 214,000 BTC, now worth more than $15 billion.

Other companies followed suit, including Japanese real estate company Metaplanet and Argentine e-commerce company MercadoLibre. In fact, there is still a long way to go before Semler Scientific ranks among the top 10 publicly traded companies holding Bitcoin.

Edited by Stacey Elliott.