Semler’s affair with Bitcoin does not extend to other crypto assets.
Semler Scientific (SMLR), a medical device manufacturer known for its QuantaFlo diagnostic tool, appears to have made acquiring Bitcoin its top priority at the moment. As Coinspeaker reported in May, the Nasdaq-listed firm adopted Bitcoin (BTC) as its primary treasury asset. Since then, the company has significantly increased its holdings and may even be planning to splash up to $150 million on more acquisition.
This aggressive move was revealed in a recent S-3 filing with the US Securities and Exchange Commission (SEC). The filing details Semler’s purchase of an additional $17 million in Bitcoin. That is, after making its first 581 Bitcoin purchase on May 28. With the latest acquisition, Semler’s total holdings now stand at 828, currently valued at over $58.5 million.
Semler Holds Bitcoin Highly, Here’s Why
This latest move further signifies Semler’s strong belief in Bitcoin’s potential. According to a company statement, Bitcoin has proven, beyond a reasonable doubt, its status as a compelling investment and reliable store of value. Part of the statement reads:
“We will continue to actively pursue our strategy of acquiring Bitcoin with available cash.”
Notably, Semler is putting its money where its mouth is. The company also announced the potential issuance of $150 million in debt securities, with a specific allocation towards further Bitcoin purchases. This means that the firm may have placed Bitcoin as a top priority or just at par with its core healthcare business.
Meanwhile, it’s worth mentioning that Semler’s recent moves are because it sees Bitcoin as an attractive hedge against inflation. The firm believes that Bitcoin holds an advantage over traditional assets like gold, particularly due to its significantly lower market value. A statement from the filing captures this line of thought as Semler says:
“Given the significant gap between Bitcoin’s and gold’s value, we believe Bitcoin has the potential for substantial returns as its adoption as ‘digital gold’ continues to grow.”
Interestingly, Semler’s affair with Bitcoin does not extend to other crypto assets. This is as the firm asserted that it has no plans of investing in any other crypto assets.
A Growing Trend
Semler now has Bitcoin as its primary treasury reserve asset. However, the move reflects a growing trend among multinational companies who are also looking to Bitcoin to save the day.
MicroStrategy and Japan-based investment firm Metaplanet are two prime examples of such firms. These firms have been making aggressive Bitcoin purchases and are showing no signs of stopping anytime soon.
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