Medical device manufacturer Semler Scientific is actively looking to expand its Bitcoin holdings after successfully acquiring 47 BTC in the third quarter, bringing its total crypto reserves to over 1,050 BTC.
The company, headquartered in Santa Clara, now possesses 1,058 BTC, valued at approximately $71 million. In a financial results report for Q3, CEO Doug Murphy-Chutorian emphasized Semler’s commitment to acquiring and holding Bitcoin while simultaneously driving innovation and growth within its healthcare operations.
Murphy-Chutorian stated, “We plan to continue to purchase Bitcoin with cash from operations and with cash proceeds from our sales under our ATM program. Additionally, we are exploring further financing opportunities that will allow us to acquire even more Bitcoin.”
Despite its aggressive crypto investment strategy, Semler Scientific faced challenges in Q3. The company’s revenue declined by 17% year-over-year to $13.5 million, and operating income dropped 20% to $5.1 million. Following the earnings report, Semler’s shares on Nasdaq fell by 2.3%, although they have risen 18% over the past month, according to Google Finance.
Semler Scientific first ventured into the Bitcoin market in May, acquiring 581 BTC for $40 million. At that time, the company highlighted Bitcoin’s potential as a “reliable store of value” and a “compelling investment,” pointing to its scarcity and effectiveness as a hedge against inflation and a safe haven amid global economic instability.
The company further asserted that Bitcoin’s digital resilience and architectural advantages make it a preferable asset compared to gold, which has a market value approximately ten times greater than that of Bitcoin.
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