Semler Scientific Considers Additional Bitcoin Acquisitions Following 47 BTC Purchase in Q3
Medical device maker Semler Scientific says it remains “laser focused” on acquiring and holding more Bitcoin after its crypto reserves surpassed 1,050 BTC.
Healthcare manufacturer Semler Scientific now holds $1,058 Bitcoin (
BTC
), worth $71 million, after it purchased 47 BTC in Q3.
In a Q3 financial results
report
, Doug Murphy-Chutorian, chief executive officer of the Santa Clara-headquartered company said Semler Scientific remains “laser focused on acquiring and holding Bitcoin, while supporting innovation and growth in our healthcare business.”
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Despite its crypto-centric investment strategy, Q3 proved challenging for Semler Scientific. The company’s revenue dropped 17% year-over-year to $13.5 million, while operating income fell 20% to $5.1 million. Following the report, shares on Nasdaq dipped 2.3%, though they remain up 18% over the past month, according to Google Finance.
Semler first entered the Bitcoin market in May with the acquisition of 581 BTC for $40 million. At the time, Semler
emphasized
Bitcoin’s potential as a “reliable store of value” and a “compelling investment,” citing its scarcity and potential as an inflation hedge and safe haven amid global economic uncertainty.
Additionally, Semler also said that the company believes that Bitcoin’s digital, architectural resilience “makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin.”
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Semler Scientific expands Bitcoin portfolio with $5m purchase
