FameEX Hot Topics | Semler Scientific Increases Bitcoin Holdings, Citing Growth in Institutional Adoption

Semler Scientific recently acquired 83 additional bitcoins for $5 million, bringing its total holdings to 1,012 BTC. The company has invested $68 million in total, including fees and expenses, to amass this cryptocurrency portfolio. Semler Scientific, known for developing technology to combat chronic diseases, expressed confidence in the growing institutional adoption of bitcoin.

The company highlighted a recent report showing that institutions now own over 20% of bitcoin ETF assets under management. “We are encouraged by the increasing institutional adoption of bitcoin,” Semler stated. “We believe this trend will drive value for both bitcoin prices and our stockholders.”

Eric Semler, chairman of Semler Scientific, elaborated that the recent bitcoin purchases were funded primarily through cash from operations and capital raised via their at-the-market equity program. The company adopted its bitcoin strategy earlier this year, reflecting its belief in the cryptocurrency as a reliable store of value and a sound investment.

“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” Eric Semler said. He emphasized that bitcoin has now become a major asset class, with a market value exceeding $1 trillion. According to Semler, bitcoin’s unique characteristics as a scarce and finite asset make it a reasonable hedge against inflation and a safe haven during times of global instability.

Semler Scientific is optimistic that the increasing institutionalization of bitcoin will continue to boost its value, benefiting both the cryptocurrency market and their stockholders.

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