Semler Scientific has announced the acquisition of an additional 83 bitcoins for a total of $5 million.
The company's latest purchase, which adds to its previous investments in the market-leading cryptocurrency, brings Semler Scientific's total holdings to 1.012 bitcoins, acquired for a total of $68 million.
This recent Bitcoin purchase highlights the growing adoption of the leading cryptocurrency as a reserve asset in the business world.
Semler Scientific's Bitcoin Investment Strategy
Since its first investment in Bitcoin in May of this year, when it acquired 654 bitcoins for $40 million, Semler Scientific has been implementing a clear strategy of accumulating this cryptocurrency, considered a store of value and a refuge against inflation.
In June, the company made a significant purchase of 247 bitcoins, investing a total of $17 million, and recently, this August, it completed a new acquisition of 83 bitcoins.
Eric Semler, president of the company, has indicated that these purchases are financed primarily with cash generated from operations and capital raised through its equity program.
Bitcoin as a reserve asset, a trend in the business world
Semler Scientific's decision to adopt Bitcoin as its primary treasury asset reflects a broader trend in the business world, where more and more companies are recognizing the potential of the leading cryptocurrency as a safe haven and a means to diversify their reserves. treasury. Like other companies that have adopted this strategy, Semler Scientific seeks to protect its capital against inflation and market volatility.
To date, MicroStrategy and other companies are leading the way toward institutional adoption of Bitcoin, accumulating thousands of units of the cryptocurrency. According to data from the Bitcoin Treasuries platform, MicroStrategy owns 226.500 BTC, valued at more than $13.900 billion, which has allowed the artificial intelligence company to significantly increase its enterprise value.
This strategy implemented by MicroStrategy since August 2020 has inspired other organizations to consider the most capitalized cryptocurrency on the market as a viable option for their balance sheets. Other companies, such as Marathon Digital Holdings and Metaplanet, have also incorporated Bitcoin into their financial strategies, recognizing its potential as an asset that can offer long-term stability and growth.
Institutional ownership of Bitcoin increases
In addition to direct investments, the growing institutionalization of Bitcoin is also evidenced by the increase in institutional ownership in Bitcoin exchange-traded funds (ETFs), where, for the first time, institutions have been reported to own more than 20% of assets under management.
Eric Semler stressed on his social networks that the institutionalization of Bitcoin is booming.
“The number of institutional investors holding Bitcoin ETFs increased 14% in the second quarter, from 965 to 1.110, according to recent data from asset manager Bitwise Asset Management. “Exchange-traded funds reached more large companies despite a 12% drop in the price of Bitcoin during the second quarter of 2024”, pointed out Semler in X.
This trend underscores institutional investors' growing confidence in Bitcoin as a legitimate and attractive asset. On the other hand, the adoption of Bitcoin by public companies and investment funds has contributed to its legitimization as a financial asset and store of value.
Overall, Semler Scientific's recent acquisition of Bitcoin not only strengthens its balance sheet, but also positions the company as a relevant player in the cryptocurrency investment space.
Backed by his Bitcoin accumulation strategy, Semler seeks to not only protect his capital, but also capitalize on the appreciation potential of this asset in the future.
