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bitcoin

Bitcoin Acquisition Continues: Semler Scientific Increases Holdings To 1,058 BTC

Ash Tiwari
by Ash Tiwari
10 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Santa Clara-based healthcare tech company Semler Scientific (SMLR) recently disclosed that it purchased an additional 47 Bitcoin (BTC), bringing its total holdings to 1,058 BTC.

Semler Scientific Continues To Increase Its BTC Holdings

Semler Scientific, a Nasdaq-listed healthcare manufacturer, announced that it bought an additional 47 BTC for $3 million. This acquisition comes as Bitcoin remains about 7% below its all-time high (ATH) value.

Related Reading: “Asia’s MicroStrategy” Metaplanet Increases Bitcoin Holdings With $6.7M BTC Purchase

The firm accumulated 141 BTC between July and September for $8.4 million. The latest purchase of 47 BTC was made between the end of September and November 4, according to the firm’s Q3 2024 report.

The acquisition, valued at $3 million, has increased Semler Scientific’s total holdings to 1,058 BTC. The company indicated it plans to continue purchasing BTC.

Commenting on the development, Doug Murphy-Chutorian, chief executive officer of Semler Scientific, said:

We remain laser-focused on acquiring and holding bitcoin, while supporting innovation and growth in our healthcare business.

Semler Scientific embarked on its BTC acquisition journey in May 2024, when it purchased 581 BTC for $40 million. Later in September, the firm added 83 BTC to its reserves – purchased for $5 million. 

The company seems to follow a strategy similar to MicroStrategy’s (MSTR) approach. Eric Semler, chairman of Semler Scientific, suggested that the company is exploring additional financing opportunities to acquire more BTC, mirroring MicroStrategy’s approach.

Despite this, Semler Scientific’s stock performance doesn’t align with MSTR’s trajectory. SMLR closed at $29.97 on November 5, down 2.31% for the day. Although the stock has risen by 8.31% over the last six months, it remains down 32.16% year-to-date (YTD).

Semler stock
SMLR is down 32.16% YTD | Source: SMLRUSD on Google Finance

In contrast, MSTR is up a remarkable 225.44% on a YTD basis. In the past six months, the stock price has risen by 75.75%, although the stock has taken a beating in the past month, sliding by 15.47%.

Semler’s Q3 2024 report shows that its net income increased to $5.6 million, up from $5.5 million in Q3 2023.

Company Bitcoin Reserves Becoming A Common Trend

Besides Semler Scientific, MicroStrategy, and Tesla, an increasing number of companies are gradually warming up to the idea of having a BTC reserve. 

Most recently, Japanese firm Metaplanet announced that it had bagged another 108 BTC, getting the firm closer to its ambitious target of holding 1,000 BTC.

Related Reading: MicroStrategy’s ‘Intelligent Leverage Strategy’ Ideal For Bitcoin Exposure, Report Says

This trend of adding BTC to corporate balance sheets is unsurprising, as several seasoned analysts have expressed optimism about BTC’s long-term prospects.

For instance, analysts at research firm Bernstein recently predicted that BTC reaching $200,000 by the end of 2025 is a ‘conservative’ estimate. BTC trades at $69,236 at press time, up 0.9% in the past 24 hours.

bitcoin
BTC trades at $69,236 on the weekly chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from Google Finance and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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