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New 'Mini MicroStrategy' Semler Scientific Announces $17 Million Bitcoin Purchase
Semler Scientific (SMLR), a healthcare technology firm, has furthered its venture into Bitcoin with the acquisition of 247 BTC for $17 million, including fees. The average price per coin was $68,825, with Bitcoin trading at $71,200 per coin as of Friday. This latest purchase increases Semler's total Bitcoin holdings to 828 BTC, valued at $57 million, yielding a modest $1 million profit so far.
CEO Doug Murphy-Chutorian reaffirmed the companyβs dual focus on expanding healthcare services and investing in Bitcoin. Last month, Semler named Bitcoin its "primary treasury reserve asset," following MicroStrategyβs lead, which spurred a 33% surge in SMLR stock.
Semler now boasts a market cap of $223 million, quadrupling the value of its Bitcoin assets. Additionally, an SEC filing revealed plans for a $150 million debt securities sale aimed at further Bitcoin acquisitions. The CEO highlighted Bitcoin's potential as a store of value, emphasizing continued purchases with cash.
Semler's Chairman Eric Semler echoed the sentiment, citing Bitcoin's potential for significant returns and its advantages over gold, despite gold's larger market cap. Semler joins other firms like Japan's Metaplanet in aggressively accumulating Bitcoin, exploring capital market uses to enhance shareholder value and Bitcoin holdings.