Semler Scientific, a Nasdaq-listed health tech firm, buys 297 Bitcoin for $29.1M as Bitcoin nears the anticipated $100K milestone.
For $29.1 million, Semler Scientific, a healthcare technology company listed on the Nasdaq, purchased an extra 297 Bitcoin (BTC). The acquisition occurs as Bitcoin approaches the eagerly awaited $100,000 mark.
BTC Holdings Expands at Semler Scientific
Earlier today, the corporation revealed its most recent Bitcoin buy, as the cryptocurrency’s price somewhat declined from its peak of nearly $98,000. The 297 BTC addition brings Semler Scientific’s total holdings to 1,570 BTC, purchased for $117.8 million. Its BTC reserves are often bought for about $75,039 per bitcoin.
The notice states that the most recent Bitcoin purchase was completed between November 18 and November 22. The average cost of the 297 Bitcoins, including fees and other costs, was $97,995.
Semler Scientific reported a significant growth in its Bitcoin Yield performance in addition to purchasing BTC. The company’s Bitcoin Yield was 37.1% between October 1 and November 22. This is marginally less than its BTC yield, over 58.4% between July 1 and November 22. Semler Scientific CEO Eric Semler made the following statement in response:
We are thrilled to report a 58.4% BTC yield and the outstanding progress we are making to accumulate bitcoin on our balance sheet in a highly accretive way for our stakeholders.
As you may remember, Semler Scientific declared in May that it has made Bitcoin a strategic reserve asset. At current market rates, the company’s first Bitcoin purchase was 581 BTC, valued at $40 million.
The business increased its holdings of $5 million at current market values by an additional 83 BTC in August. Semler Scientific paid $3 million for a further 47 BTC earlier this month.
US Strategic Reserve Rumors Causing FOMO for Bitcoin
The most recent Bitcoin acquisition by Semler Scientific is consistent with mounting conjecture on establishing a Strategic Bitcoin Reserve (SBR) for the US. Amid this speculation, businesses like Metaplanet and MicroStrategy have also been growing their Bitcoin holdings.
For those unaware, Donald Trump, the incoming president of the United States, is anticipated to create a national SBR. This action might lead to a worldwide scramble by businesses and governments to amass Bitcoin, a limited-edition digital currency.
The US might become one of the only nations actively hoarding Bitcoin as a hedge against macroeconomic risks, along with El Salvador and Bhutan, if the Trump administration establishes a national SBR.
One of the biggest bullish triggers in the history of the digital asset might be the US entering the Bitcoin accumulation game. Organizations worldwide are preparing to take advantage of the possible change in US Bitcoin policy as Trump’s inauguration date approaches.
As of this writing, Bitcoin is trading at $95,980, down 0.3% over the previous day. The entire value of the cryptocurrency market is $3.47 trillion, up 1.2% over the last day.
