Nasdaq-listed medical manufacturer Semler Scientific has augmented its Bitcoin (BTC) holdings with an additional $17 million purchase, bringing its total to 828 Bitcoin, valued at over $58.5 million. Following its initial Bitcoin acquisition last month, the company has reaffirmed its commitment to BTC as an investment vehicle and intends to raise up to $150 million for further purchases.
Semler's decision to invest in Bitcoin underscores its belief in the cryptocurrency's potential as a compelling investment and reliable store of value. The firm views Bitcoin as an effective hedge against inflation and a safe haven amidst global economic uncertainties. Bitcoin now stands as Semler's primary treasury reserve asset, complementing its healthcare business.
“We intend to use the net proceeds from the sale of any securities offered under this prospectus primarily for general corporate purposes, including the acquisition of bitcoin,” the firm wrote.
Semler Scientific’s proposed $150 million debt securities offering. Source: SEC
The company aims to utilize proceeds from potential debt securities offerings primarily for general corporate purposes, including further Bitcoin acquisitions. CEO Doug Murphy-Chutorian highlighted Bitcoin investment as a top priority alongside Semler's core healthcare operations.
Semler emphasizes Bitcoin's digital resilience and compares it favorably to gold, citing potential for outsized returns as Bitcoin gains acceptance as "digital gold." The firm clarifies its exclusive focus on Bitcoin and has no plans to invest in other cryptocurrencies.
Semler's initial Bitcoin purchase in May led to a 30% surge in its stock price. However, the recent $17 million acquisition did not yield a similar market response, with the stock declining by 2.5% on June 6. Despite this, Semler remains committed to its Bitcoin investment strategy.
Semler Scientific’s change in share price over the last month. Source: Google Finance
Semler joins Japan-based investment firm Metaplanet in adopting a Bitcoin-centric investment approach akin to MicroStrategy's playbook. Metaplanet's multiple Bitcoin purchases since April align with its strategy to capitalize on the cryptocurrency's potential. These investments have positioned Metaplanet as one of the best-performing stocks on the Tokyo Stock Exchange.
In conclusion, Semler's continued Bitcoin acquisitions signal confidence in cryptocurrency as a strategic asset, reflecting broader trends of institutional adoption in the digital asset space.
Golden Finance launched the 2477th issue of "Golden Morning 8", a morning report on the cryptocurrency and blockchain industry, to provide you with the latest and fastest digital currency and blockchain industry news.
JinseFinanceRecently, Nvidia has set its sights on revolutionizing healthcare. However, a recent 10% decline in Nvidia's share price over the past week has sparked speculation: Is Nvidia overreaching with its healthcare ambitions?
WilfredNvidia's stock has hit an all-time high. Should you "panic" or "greed"?
WilfredNvidia's record-breaking quarter boosts its stock to $1,000, fueled by robust AI chip demand and a forecast of continued growth amid a booming AI industry.
AlexMetaplanet's shares soared 158% after adopting a Bitcoin investment strategy, mirroring MicroStrategy, amid Japan's economic pressures and yen devaluation.
BerniceLive Nation (LYV) Faces DoJ Lawsuit: Allegations of antitrust violations prompt sharp premarket decline. Settlement expected with financial penalties and operational changes. Industry impact and broader antitrust implications.
Huang BoBakkt's future hangs in the balance as it navigates turbulent waters in the stock market. With mounting pressure from the NYSE and persistent financial woes, the company faces an uphill battle to regain stability and investor confidence.
BerniceThe stock of iFlyTek, a Chinese company specialising in AI, fell by 10% because their product started criticising Mao Zedong.
YouQuanShares of Coinbase popped more than 26% Thursday after a federal judge in New York dismissed a class action lawsuit against the San Francisco-based company.
decryptLast Tuesday, Coinbase CEO Brian Armstrong said that the crypto exchange's 2022 revenue will be 50% or less than that of the prior year.
decrypt