Semler Scientific, a Nasdaq-listed medical technology company, announced Thursday that it had purchased 247 bitcoins for $17 million worth of cash. It plans to raise $150 million worth of funds to further increase its Bitcoin holdings.
The company has already amassed a total of 828. BTC
+0.49%
It is said that it was acquired for a total of $57 million. press release. At Bitcoin’s current value, Semler’s BTC portfolio is worth nearly $59 million.
“Semler remains focused on two strategies: expanding our healthcare business and acquiring and holding Bitcoin,” said Semler Scientific CEO Doug Murphy-Chutorian. “We will continue to pursue our strategy of purchasing Bitcoin with cash.”
According to the company S-3 application Semler Scientific said it will raise an additional $150 million worth of debt securities with the U.S. Securities and Exchange Commission. The company said it would use part of the planned increase to purchase more Bitcoin.
“We believe it has the unique characteristics of being a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,” the filing said. The company also stated that it has no plans to purchase other types of cryptocurrencies.
Meanwhile, the company acknowledged in its filing that Bitcoin has been, and will likely continue to be, very volatile. “Due to future fluctuations in the trading price of Bitcoin, Bitcoin purchased with the net proceeds from this offering may be converted to cash with a value significantly lower than the net proceeds from this offering,” the statement said.
Semler Scientific closed down 2.48% on Thursday and was down another 1.17% in the after-hours, according to data from Yahoo Finance.
According to BitcoinTreasuries.netPublic companies around the world hold a total of 308,689 BTC, while the company led by Microstrategy, Inc. holds 214,400 BTC.
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