Argo

Bitcoin ETF

Bitcoin

Read

Healthcare tech developer Semler Scientific has announced an additional purchase of 247 BTC for $17 million in cash.
Santa Clara-based healthcare tech firm Semler Scientific has acquired an additional 247 BTC for $17 million in cash as part of its ongoing strategy to hedge against inflation risks.
As per a <a href="https://www.prnewswire.com/news-releases/semler-scientific-announces-additional-bitcoin-purchases-302166611.html" target="_blank" rel="noopener noreferrer nofollow">press release</a> on Jun. 7, the acquisition brings Semler Scientific’s total <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> reserves to 828 BTC, purchased at an aggregate cost of $57 million. Commenting on the purchase, Semler Scientific chief executive Doug Murphy-Chutorian highlighted the firm’s commitment to Bitcoin as a “compelling investment and a reliable store of value.”
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “We will continue to pursue our strategy of purchasing Bitcoins with cash.”
 Doug Murphy-Chutorian
</blockquote>
You might also like: <a href="https://crypto.news/vanguard-blocks-spot-bitcoin-etf-purchases/" rel="noopener noreferrer nofollow"> Vanguard blocks spot Bitcoin ETF purchases </a>
The latest transaction follows a substantial purchase just a week prior, where Semler Scientific <a href="https://crypto.news/semler-scientific-unveils-strategy-for-bitcoin-treasury/" target="_blank" rel="noopener noreferrer nofollow">acquired</a> 581 BTC for $40 million, indicating an average price of approximately $68,850 per coin. Semler Scientific chairman Eric Semler emphasized Bitcoin’s potential as a scarce, finite asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin.”
 Eric Semler
</blockquote>
With this purchase, Semler Scientific now ranks 20th among public companies holding Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. The firm surpasses crypto mining company Argo Blockchain, which holds 11 BTC, but falls behind Chinese software company Meitu, which <a href="https://crypto.news/meitu-100-million-btc-ether-bitcoin-purchase/" target="_blank" rel="noopener noreferrer nofollow">holds</a> 940.9 BTC.
Read more: <a href="https://crypto.news/stanford-universitys-blyth-fund-buys-bitcoin-btc/" rel="noopener noreferrer nofollow"> Stanford University’s Blyth Fund buys Bitcoin (BTC) </a>

Med tech developer Semler Scientific puts additional $17m in Bitcoin

crypto.news

Other articles published on Jun 7, 2024

Crypto Boom: BlockDAG’s Leaderboard Ignites Investor Excitement with 30,000x ROI, Surpassing Stel...

What Events Will Make Bitcoin and Ethereum Rise in June? What Does the Data Reveal for BTC and ET...

Ethereum Price Prediction: How High will Ethereum reach in June 2024?

Institutional Interest In Memecoins Rises As DWF Labs Invests Millions In FLOKI, These Memecoins ...

Behind the Scopuly: The Evolution of a User-Driven Platform

Rising Crypto Voters in the US: Five Cryptos Set for a Meteoric Rise in 2024

Join our free newsletter for daily crypto updates!