Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

Semler Scientific continues to add Bitcoin to its hoard, announcing a $17 million acquisition and raising $150 million to buy more.

The announcement of a $40 million bitcoin purchase in May sent the company’s shares up 25%.

Publicly traded Semler Scientific (SMLR), a healthcare company that has expanded its corporate strategy to include buying bitcoin {{BTC}}, said it has purchased $17 million more in digital coins and is preparing to raise $150 million to buy even more.

“Semler remains focused on our dual strategies of expanding our healthcare business and buying and holding bitcoin,” Doug Murphy-Chutorian, MD, CEO of Semler Scientific, said in a statement. “The company currently holds 828 Bitcoins, underscoring our view that Bitcoin is an attractive investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing Bitcoin with cash.”

According to current market data from CoinDesk Indices, Semler’s 828 Bitcoins were purchased for $57 million and are now worth $59 million.

According to Bitcointreasuries.net, public companies have 308,442 BTC on their balance sheets, collectively worth approximately $21.8 billion.

Semler’s announcement in late May that he would purchase $40 million worth of Bitcoin caused its shares to rise by 25%.

SMLR ended the day down 2.5% in US trading.