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FameEX Hot Topics | Semler Scientific Expands Bitcoin Holdings, Highlighting Rising Institutional Adoption

2024-08-27 18:23:10

Semler Scientific has recently added 83 bitcoins to its portfolio, spending $5 million and bringing its total holdings to 1,012 BTC. The company has invested $68 million in total, including fees, to build this cryptocurrency reserve. Semler Scientific, a firm specializing in technology for chronic disease management, expressed strong confidence in the growing institutional adoption of bitcoin.


The company pointed to a report indicating that institutions now hold over 20% of bitcoin ETF assets under management. "We are encouraged by the increasing institutional adoption of bitcoin," Semler commented, adding, "We believe this trend will enhance the value of bitcoin and benefit our stockholders."


Chairman Eric Semler explained that the latest bitcoin acquisitions were funded primarily through cash from operations and capital raised via their at-the-market equity program. The company embraced its bitcoin strategy earlier this year, driven by a belief in the cryptocurrency as a dependable store of value and an attractive investment.


“Our bitcoin treasury strategy and these recent purchases highlight our belief that bitcoin is a reliable store of value and a compelling investment,” Eric Semler noted. He emphasized that bitcoin has now established itself as a major asset class, with a market value exceeding $1 trillion. Semler believes that bitcoin's unique characteristics as a scarce and finite asset make it an effective inflation hedge and a safe haven during periods of global uncertainty.


Semler Scientific remains optimistic that the increasing institutionalization of bitcoin will continue to drive its value, benefiting both the cryptocurrency market and their shareholders.


Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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