Medical device company Semler Scientific is making a bold move into cryptocurrency. They recently purchased an additional $17 million worth of Bitcoin, bringing their total holdings to 828 BTC. But they're not stopping there; Semler Scientific is planning to raise $150 million to further expand their Bitcoin treasury.
This dual strategy highlights Semler's commitment to both their core healthcare business and their growing interest in Bitcoin. CEO Doug Murphy-Chutorian sees Bitcoin as a valuable asset and a reliable store of value. Interestingly, the 828 Bitcoins Semler acquired for $57 million have already seen a BTC price increase, now valued at around $59 million based on recent data. This initial investment demonstrates confidence in Bitcoin's potential for future growth.
Earlier this year, Semler's initial $40 million Bitcoin purchase sent their stock price soaring by 25%. However, despite this latest news, Semler's stock price (SMLR) actually closed down 2.5% in recent U.S. trading. It will be interesting to see how Semler's Bitcoin treasury performs in the next few months and how it affects their overall financial plan. CEO Doug Murphy-Chutorian's trust in Bitcoin's long-term value may prove to be a sensible investment move for the company in the future, but only time will tell if Semler's Bitcoin bet pays off in the long run with investors keeping a careful eye on the company's financial decisions.
