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

Healthcare tech developer Semler Scientific has announced an additional purchase of 247 BTC for $17 million in cash.

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

As per a press release on Jun. 7, the acquisition brings Semler Scientific’s total Bitcoin reserves to 828 BTC, purchased at an aggregate cost of $57 million. Commenting on the purchase, Semler Scientific chief executive Doug Murphy-Chutorian highlighted the firm’s commitment to Bitcoin as a “compelling investment and a reliable store of value.”

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

Doug Murphy-Chutorian

The latest transaction follows a substantial purchase just a week prior, where Semler Scientific acquired 581 BTC for $40 million, indicating an average price of approximately $68,850 per coin. Semler Scientific chairman Eric Semler emphasized Bitcoin’s potential as a scarce, finite asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.

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

Eric Semler

With this purchase, Semler Scientific now ranks 20th among public companies holding Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. The firm surpasses crypto mining company Argo Blockchain, which holds 11 BTC, but falls behind Chinese software company Meitu, which holds 940.9 BTC.