Summary
Medical device maker Semler Scientific plans to increase its Bitcoin holdings, with crypto reserves now exceeding 1,050 BTC. The company remains focused on further acquisitions despite a dip in quarterly revenue.
Semler Boosts Bitcoin Reserves, Eyes Further Purchases
Healthcare manufacturer Semler Scientific now holds over 1,050 BTC, valued at $71 million, after acquiring 47 BTC in Q3. CEO Doug Murphy-Chutorian emphasized the company’s dedication to growing its Bitcoin reserves, stating that Semler remains “laser focused on acquiring and holding Bitcoin” to support both innovation and growth in its healthcare sector.
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Plans for Further Acquisition
The dedication to Bitcoin was reiterated by Eric Semler, chairman of Semler Scientific, who clarified that future acquisitions will be financed by operating cash and earnings from their ATM program. He continued, indicating the company’s intention to fortify its position in the cryptocurrency market by saying, “We are looking into other financing options that will allow us to purchase even more Bitcoin.”
Financial Setback and Market Performance
Despite Semler’s obvious crypto-focused strategy, the company faced financial difficulties in Q3, as operating income fell by 20% and revenue fell 17% year over year to $13.5 million. Nasdaq shares fell 2.3% after the report, but they were still up 18% over the previous month.
Bitcoin as a “Store of Value”
Semler entered the Bitcoin market in May with a 581 BTC purchase, viewing Bitcoin as a “reliable store of value” and a preferable alternative to gold due to its digital resilience and scarcity amid global uncertainty.
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