Medical system producer Semler Scientific (NASDAQ: SMLR) introduced the acquisition of a further 247 Bitcoins for $17 million in money, bringing its whole holdings to 828 Bitcoins. The corporate additionally plans to boost $150 million to develop its Bitcoin reserves.
Freshly Listed: BlackRock Spot #bitcoin ETF IBIT had inflows of $347.1 million immediately. pic.twitter.com/SIKByVcctA
— Bitcoin Journal (@BitcoinMagazine) June 6, 2024
Semler made waves final month when he mimicked MicroStrategy’s influential enterprise Bitcoin accumulation technique by adopting Bitcoin as its major treasury reserve asset. After initially buying 581 Bitcoins, Semler continued to buy extra Bitcoins.
CEO Doug Murphy-Chutorian stated: “Semler stays targeted on two methods: increasing its healthcare enterprise and buying and holding Bitcoin. We are going to proceed to pursue a method of buying Bitcoin with money.”
The corporate filed an S-3 type with the SEC outlining its plan to boost $150 million in debt, a part of which will probably be used to purchase extra Bitcoin. Semler famous within the submitting that it views Bitcoin as “an inexpensive inflation hedge and protected haven within the face of world instability.”
Semler follows within the footsteps of MicroStrategy, which has amassed greater than 200,000 bitcoins and contributed to the current development of public firms including bitcoin to their steadiness sheets. After MicroStrategy started a Bitcoin shopping for spree in 2020, its inventory value surged as traders responded positively.
Different firms, reminiscent of Japanese-listed Metaplanet, additionally started following MicroStrategy’s Bitcoin vault configuration handbook this yr. They acknowledge that holding scarce property like Bitcoin might improve the worth of their companies.
This proves that Bitcoin’s sport idea is working as companies more and more undertake Bitcoin to maximise shareholder worth. Semler’s continued Bitcoin acquisitions replicate its perception that including Bitcoin to its steadiness sheet can considerably improve its enterprise.
With the development gaining mainstream recognition not too long ago, extra public firms might turn out to be captivated with Bitcoin and comply with Microstrategy’s technique.
