Semler Scientific, a U.S. medical technology company, is doubling down on Bitcoin, expanding its holdings to over 3,300 BTC. By Eric Semler.
Semler Scientific, a U.S. medical technology company, is expanding its Bitcoin holdings further, disclosing an investment of $10 million to add another 111 Bitcoin to its reserves.
This latest purchase, disclosed in a filing on Thursday, brings the company’s total Bitcoin stash to over 3,300 coins.
At an average price of $90,000 per Bitcoin, the company’s newest batch of coins pushes its overall average acquisition cost up slightly from $88,000 per coin.
The company, which adopted Bitcoin as its main treasury asset in May, has been incrementally increasing its position throughout the year, and the latest filing shows that its year-to-date returns are tracking at 23.5%.
Semler Scientific, founded by Eric Semler, is known for its hearing technology and medical devices. It previously disclosed buying 303 Bitcoin in December, pushing its holdings past 1,800 coins at the time.
According to Bitcoin Treasuries data, Semler Scientific now ranks as the 14th largest corporate holder of Bitcoin worldwide.
The company’s move to invest further in Bitcoin comes amid a period of relative stability in the cryptocurrency markets. After a rally earlier in the year, Bitcoin prices have settled in a trading range in recent months.
However, there are signs that investor interest in Bitcoin is continuing to grow, with several companies announcing new investments in the cryptocurrency in recent weeks.
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