Semler Scientific, a healthcare technology company listed on Nasdaq, revealed on Thursday its acquisition of 247 bitcoins for $17 million in cash. It aims to raise an additional $150 million to expand its bitcoin holdings. With a total of 828 BTC acquired for $57 million, Semler’s bitcoin portfolio is now valued at almost $59 million based on current bitcoin prices.
“Semler remains focused on our two strategies of 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 bitcoins with cash.”
Semler Scientific stated in its S-3 filing with the U.S. Securities and Exchange Commission its intention to raise an extra $150 million through debt securities. The company specified that a portion of these funds will be allocated towards acquiring additional bitcoin.
“We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,” said the filing — which further said that the company does not plan to purchase other types of cryptocurrencies.
In the filing, Semler Scientific acknowledged the high volatility of bitcoin, stating that it has been and is likely to remain so in the future.
Future fluctuations in bitcoin trading prices may result in our converting bitcoin purchased with the net proceeds from this offering into cash with a value substantially below the net proceeds from this offering
Semler Scientific concluded Thursday with a 2.48% decline, and it dipped an additional 1.17% in after-hours trading, as per Yahoo Finance data. Meanwhile, according to BitcoinTreasuries.net, public companies globally collectively hold 308,689 BTC, with Microstrategy, Inc. leading the pack with 214,400 BTC.
