Semler Scientific Plans $150M Fundraising to Buy More Bitcoin

$150 million to expand its Bitcoin holdings after acquiring 247 additional Bitcoin for $17 million.
Semler Scientific Plans $150M Fundraising to Buy More Bitcoin

Key Takeaways

  • Semler Scientific acquired 247 additional Bitcoin for $17 million.
  • The company plans to raise $150 million to expand its Bitcoin reserves.
  • MicroStrategy has influenced public firms, including Semler, to adopt Bitcoin as a treasury reserve asset.

Medical device manufacturer Semler Scientific (Nasdaq: SMLR) announced it has acquired 247 more Bitcoin for $17 million in cash, increasing its total Bitcoin holdings to 828 BTC. The company also revealed plans to raise $150 million to further expand its Bitcoin reserves.

Following in the footsteps of MicroStrategy, Semler Scientific recently adopted Bitcoin as its primary treasury reserve asset. This strategy began with an initial purchase of 581 Bitcoin and has continued with ongoing acquisitions.

CEO Doug Murphy-Chutorian emphasized the company’s dual focus:

Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin. We will continue to pursue our strategy of purchasing Bitcoins with cash.

Semler has filed an S-3 form with the SEC to outline its plan to raise $150 million in debt, part of which will be used to buy more Bitcoin. The company sees Bitcoin as…

A reasonable inflation hedge and safe haven amid global instability.

Semler is mirroring MicroStrategy’s approach, which has accumulated over 200,000 Bitcoin since 2020. This strategy has been credited with significantly boosting MicroStrategy’s stock price as investors responded positively.

Other companies, such as the Japanese public firm Metaplanet, have also begun adopting similar Bitcoin treasury strategies, recognizing the potential benefits of holding this scarce asset.

Semler’s ongoing Bitcoin acquisitions underscore its belief that adding Bitcoin to its balance sheet can significantly enhance its business value, a trend that may see more public firms following suit.

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