Med tech developer Semler Scientific puts additional $17m in Bitcoin

Health technology developer Semler Scientific announced that it purchased another 247 BTC for $17 million in cash.

Santa Clara-based health technology firm Semler Scientific purchased an additional 247 BTC for $17 million in cash as part of its ongoing strategy to hedge against inflation risks.

According to the press release made on June 7, this acquisition will increase Semler Scientific’s total Bitcoin reserves to 828 BTC and will be purchased at a total cost of $57 million. Commenting on the acquisition, Semler Scientific CEO Doug Murphy-Chutorian highlighted the firm’s commitment to Bitcoin as “an intriguing investment and a reliable store of value.”

“We will continue to pursue our strategy of purchasing Bitcoin with cash.”

Doug Murphy-Chutorian

The latest transaction follows a significant acquisition just a week ago when Semler Scientific acquired 581 BTC for $40 million; This indicates an average price of approximately $68,850 per coin. Eric Semler, president of Semler Scientific, emphasized Bitcoin’s potential as a scarce, limited asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.

“We also believe its digital, architectural flexibility makes it preferable to gold, which has a market cap of approximately 10 times Bitcoin.”

Eric Semler

With this acquisition, Semler Scientific now ranks 20th among publicly traded companies holding Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. While the firm leaves behind crypto mining company Argo Blockchain, which holds 11 BTC, it lags behind Chinese software company Meitu, which holds 940.9 BTC.