2024

Galaxy

Bitcoin

<ul>
 <li aria-level="1">Semler Scientific invests an additional $5 million in Bitcoin, raising their total holdings to $83 million, recent reports indicate.</li>
 <li aria-level="1">The purchase was funded with operational cash, reflecting a rise in Bitcoin’s institutional adoption.</li>
</ul>
<ul>
 <li aria-level="1">Semler Scientific invests an additional $5 million in Bitcoin, raising their total holdings to $83 million, recent reports indicate.</li>
 <li aria-level="1">The purchase was funded with operational cash, reflecting a rise in Bitcoin’s institutional adoption.</li>
</ul>
Semler Scientific, a healthcare company listed on Nasdaq, recently disclosed an additional investment of $5 million in Bitcoin. This purchase increases their total Bitcoin assets to $83 million.
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 <a href="https://t.co/G18lcr00oy" rel="noopener noreferrer nofollow">https://t.co/G18lcr00oy</a>
 — Eric Semler (@SemlerEric) <a href="https://twitter.com/SemlerEric/status/1828046957798993938?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 26, 2024</a>
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 According to the company’s chairman, Eric Semler, this acquisition was funded by the company’s operational cash flow.
The decision to <a href="https://www.ethnews.com/bitcoin-bull-run-on-the-horizon-willy-woo-forecasts-the-countdown/" rel="noopener noreferrer nofollow">increase Bitcoin holdings</a> comes as institutional interest in cryptocurrency appears to be on the rise. Semler commented on the positive trend of Bitcoin’s acceptance by institutional investors, indicating his belief that this factor could drive the cryptocurrency’s price upwards.&nbsp;
The company first announced its Bitcoin strategy in early June, purchasing $17 million worth of Bitcoin. This strategy integrates Bitcoin acquisition into its broader business operations, mirroring approaches taken by firms like MicroStrategy.
MicroStrategy currently holds the highest Bitcoin assets among public companies, valued at over $14.4 billion. Following them are Bitcoin mining firm <a href="https://www.ethnews.com/why-marathon-digital-betting-250m-on-bitcoin-matters-more-than-you-think/" rel="noopener noreferrer nofollow">Marathon Digital</a> and electric vehicle manufacturer Tesla.&nbsp;
The list of major corporate Bitcoin holders includes Coinbase and Galaxy Digital, both crypto-native firms, along with other mining companies like Riot Platforms and Hut 8 Mining.
Corporate engagement with Bitcoin extends beyond North American firms. For instance, Japan’s Metaplanet, often compared to <a href="https://www.ethnews.com/microstrategy-boosts-bitcoin-reserves-plans-500m-raise-for-additional-btc-acquisition/" rel="noopener noreferrer nofollow">MicroStrategy</a>, also increased its Bitcoin holdings earlier this month.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Four years on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Standard, and you would have outperformed every company in the S&amp;P 500. <a href="https://t.co/X2QMKMNJn5" rel="noopener noreferrer nofollow">pic.twitter.com/X2QMKMNJn5</a>
 — Michael Saylor<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1827681542304338128?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 25, 2024</a>
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Although MicroStrategy has seen substantial financial performance from its Bitcoin investments, surpassing many S&amp;P 500 companies, overall corporate adoption of Bitcoin remains relatively limited.
This incremental investment by Semler Scientific underscores a cautious yet optimistic endorsement of Bitcoin’s potential within traditional business sectors. It highlights a continuing trend where companies are not only recognizing cryptocurrency as a speculative asset but also considering it a viable component of their investment portfolios.&nbsp;
As more institutions like Semler Scientific navigate cryptocurrency investments, they contribute to broader financial recognition and adoption of crypto.
The post <a href="https://www.ethnews.com/semler-scientific-increases-bitcoin-investment-reflecting-institutional-confidence/" rel="noopener noreferrer nofollow">Semler Scientific Increases Bitcoin Investment, Reflecting Institutional Confidence</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Semler Scientific Increases Bitcoin Investment, Reflecting Institutional Confidence

ETHNews

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