Medical system producer Semler Scientific (Nasdaq: SMLR) introduced it acquired 247 extra Bitcoin for $17 million in money, bringing its whole holdings to 828 BTC. The corporate additionally plans to lift $150 million to broaden its Bitcoin reserves.
JUST IN: BlackRock spot #Bitcoin ETF IBIT had $347.1 million inflows right this moment. pic.twitter.com/SIKByVcctA
— Bitcoin Journal (@BitcoinMagazine) June 6, 2024
Semler made waves final month when it adopted Bitcoin as its major treasury reserve asset, mimicking MicroStrategy’s influential company Bitcoin accumulation technique. After its preliminary 581 bitcoin buy, Semler has repeatedly acquired extra cash.
CEO Doug Murphy-Chutorian mentioned “Semler stays centered on our two methods of increasing our healthcare enterprise and buying and holding bitcoin. We’ll proceed to pursue our technique of buying Bitcoins with money.”
The corporate filed an S-3 type with the SEC outlining its plan to lift $150 million in debt, a portion of which is able to go towards shopping for extra Bitcoin. Semler famous within the submitting that it sees bitcoin as a “affordable inflation hedge and secure haven amid international instability.”
Semler is following the lead of MicroStrategy, which has gathered over 200,000 Bitcoin and catalyzed the current development of public firms including Bitcoin to their steadiness sheets. After MicroStrategy started its Bitcoin shopping for spree in 2020, its inventory worth rose dramatically as traders responded positively.
Different corporations like Japanese public firm Metaplanet have additionally began following MicroStrategy’s Bitcoin treasury allocation playbook this yr. They acknowledge that holding scarce asset like Bitcoin can probably increase their enterprise worth.
This demonstrates Bitcoin’s recreation principle in motion, as firms more and more undertake Bitcoin to maximise shareholder worth. Semler’s continued acquisition of Bitcoin displays its perception that including it to its steadiness sheet can considerably improve its enterprise.
As this current development beneficial properties mainstream validation, extra public corporations will seemingly heat to Bitcoin and observe Microstrategy’s playbook.
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