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Medical technology company Semler Scientific has doubled down on its buyback plan. Bitcoin For the Treasury, it announced that it has bought an additional $17 million in BTC and plans to buy up to $150 million more.
In a press release, the firm stated that it received 247 BTC for a total of $17 million in cash, including fees and expenses. The purchase brings the total Bitcoin holdings to 828 BTC, which is worth $59 million at current prices.
“Semler will focus on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,” said Semler CEO. Doug Murphy-Chutorian In his statement with those released from prison. He added that the company can use Bitcoin as a “compulsory investment” as a “safe store of value”.
Murphy-Chutorian says Semler will continue to follow his bitcoin buying strategy. as if In its Form S-3 filing with the US Securities and Exchange Commission (SEC), the company stated that it plans to raise up to $150 million through the sale of debt securities; The proceeds are also used for general corporate purposes, including the purchase of bitcoins. “
Shares of Semler Scientific ( SMLR ) gained 3.06% in pre-market trading on Friday, hitting $30.02.
Semler Scientific Bitcoin Strategy
Medical device maker Semler Scientific announced plans to adopt Bitcoin as its “main treasury asset” in May, buying 581 BTC for $40 million, including fees and expenses.
At the time, the company's chairman, Eric Semler, argued that Bitcoin “has the potential to generate significant profits as it is increasingly accepted as digital gold.”
Semler Scientific is one of several companies that have adopted a strategy of buying bitcoins for their corporate treasury, following in the footsteps of software company MicroStrategy. Led by founder and chairman Michael Saylor, Microstrategy bought 214,000 BTC, now worth more than $15 billion.
Other companies followed, including Japanese real estate firm Metaplanet and Argentinian e-commerce company Mercado Libre. Of course, Semler Scientific has a ways to go before it releases a list of 10 publicly traded companies that hold bitcoin in their treasury.
Edited by Stacy Elliott.
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