Publicly traded firm Semler Scientific has announced that it has purchased 871 Bitcoins for $88.5 million.
The purchase comes at a time when Bitcoin prices have been dwindling a little down, making the purchase profitable.
The Bitcoin buy also comes at a time when more and more corporate entities are undertaking Bitcoin purchase as a hedge against inflation.
The firm also disclosed that that money to purchase the Bitcoins was raised with the sale of Semler Scientific’s January 2025 senior convertible notes and the monetization of a portion of its minority stake in Monarch Medical Technologies, LLC.
Today’s Bitcoin acquisitions averaged at$101,616 per Bitcoin per peice. Thereby, the amount of Bitcoin that Semler Scientific currently owns is 3,192.
The firm also said that as of January 3, 2025, Semler Scientific’s Bitcoin yield was 21.9%.
The move will likely push the stock price of Semler Scientific upwards. In pre-market trading, the stock is already up 1.3%.
Increase in Corporate Interest in Bitcoin
Businesses are increasingly investing in Bitcoin since they see it as a hedge against inflation and a store of value. Prominent companies including as Tesla, MicroStrategy, and Square have openly included Bitcoin on their balance sheets, indicating an increase in institutional trust in digital assets.
Alongside more conventional assets like equities and bonds, these investments frequently act as a diversification strategy. Businesses are drawn to Bitcoin because of its long-term growth potential and its place in the growing cryptocurrency ecosystem.
But risks like volatility, unclear regulations, and mining-related environmental issues continue to be major obstacles that businesses must overcome in this changing climate.
Semler Scientific Chairman Keeps Pro-Bitcoin Opinion
Previously, Chairman of Semler Scientific Eric Semler had boldly predicted that more public firms will start embracing the Bitcoin standard, calling it “irresponsible” for them to not retain Bitcoin on their balance sheets.
According to Semler, Bitcoin is becoming a more significant reserve asset, particularly given the changing financial environment. Semler, who spearheaded the adoption of Bitcoin at Semler Scientific, blames the sluggish uptake of Bitcoin by publicly traded corporations on a cautious, risk-averse mentality.
Bitcoin has emerged as a substantial asset class, but many institutions have been reluctant to include it in their treasury strategy despite its shown track record. However, Semler believes that this caution is only transitory and that the future is obvious.
Semler Scientific’s New Move Comes As Bitcoin Adoption Rises
Increased institutional interest, widespread recognition, and expanding use cases have all contributed to the recent boom in Bitcoin acceptance.
Bitcoin’s validity has increased as a result of major companies like Tesla and MicroStrategy adding it to their balance sheets. While nations like El Salvador have accepted Bitcoin as legal cash, financial institutions are increasingly providing services related to it.
The emergence of non-fungible tokens (NFTs) and decentralized finance (DeFi) has also increased demand for Bitcoin. Bitcoin’s popularity is growing and influencing the direction of finance as more companies, investors, and governments see its potential as a store of value and an inflation hedge.