{"id":17995,"date":"2024-11-05T10:08:08","date_gmt":"2024-11-05T10:08:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17995"},"modified":"2024-11-05T10:08:08","modified_gmt":"2024-11-05T10:08:08","slug":"healthcare-tech-firm-semler-increases-bitcoin-holdings-to-1058-btc-with-3-million-purchase","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17995","title":{"rendered":"Healthcare Tech Firm Semler Increases Bitcoin Holdings To 1058 BTC With $3 Million Purchase"},"content":{"rendered":"

Healthcare technology firm Semler Scientific has expanded its Bitcoin portfolio. It purchased an additional 47 BTC for $3 million. The acquisition brings the <\/span>company\u2019s<\/span> total holdings to 1,058 BTC as part of its ongoing strategy to accumulate Bitcoin.<\/span><\/p>\n

In an<\/span>\u00a0announcement<\/span><\/a> on 4 November 2024, coinciding with its third-quarter earnings release, Semler emphasized its commitment to <\/span>both<\/span> Bitcoin and its healthcare business. <\/span><\/p>\n

\u201cW<\/span>e remain laser-focused on acquiring and holding Bitcoin while supporting innovation and growth in our healthcare business,<\/span>\u201d <\/span>stated CEO Doug Murphy-Chutorian.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>What is Bitcoin Mining <\/span>and<\/span> how does it work?<\/span><\/a><\/strong><\/p>\n

Semler\u2019s<\/span> Shares See Uptick In After-Hours Trading<\/span><\/h2>\n

On the stock market, <\/span>Semler\u2019s<\/span> shares closed down 2.3% at $29.97 on Monday. However, they experienced a 3.4% uptick in after-hours trading. Over the past month, the stock has risen 18.1%, yet it remains down 32.1% for the year, according to Google Finance.<\/span><\/p>\n

The company has positioned Bitcoin as its primary treasury asset. It purchased 141 BTC for $8.4 million in the third quarter alone. <\/span>Semler\u2019s<\/span> strategy mirrors that of MicroStrategy, which holds 252,220 BTC, making it the <\/span>largest<\/span> public corporate holder of Bitcoin.<\/span><\/p>\n

\u201cW<\/span>e are capitalizing on the opportunity to maximize stakeholder value by accumulating Bitcoin,<\/span>\u201d <\/span>Eric Semler,<\/span> the <\/span>company\u2019s<\/span> chairman<\/span>, <\/span>said.<\/span><\/p>\n

He added that Semler plans to continue purchasing Bitcoin using operational cash flow and proceeds from its at-the-market (ATM) program, which became effective on 13 August 2024 and allows for the sale of up to $50 million in common stock. <\/span><\/p>\n

I really enjoyed this discussion, including the topic of what Hal Finney predicted over a decade ago.<\/p>\n

Adrian has interviewed Eric Semler, current Chairman of Semler Scientific and we discuss the current corporate landscape. <\/p>\n

Adrian and I also covered his #Bitcoin<\/a> journey, the\u2026 pic.twitter.com\/ASgsul6Hh3<\/a><\/p>\n

\u2014 Tim Kotzman (@TimKotzman) November 4, 2024<\/a><\/p>\n\n

As of 30 September 2024, Semler had sold 86,734 shares under this agreement for $2.5 million.<\/span><\/p>\n

In its latest earnings report, Semler Scientific announced a net income of $5.6 million for the third quarter, slightly up from $5.5 million in the same period last yea<\/span>r<\/span>, whil<\/span>e<\/span> revenues decreased by 17% year-over-year to $13.5 million.<\/span><\/p>\n

Explore: MicroStrategy Announces $500 Million Private Offering To Acquire More Bitcoin <\/a><\/strong><\/p>\n

Michigan Pension Fund Expands Crypto Investments <\/span><\/h2>\n

In other news, the State of Michigan Retirement System is diversifying its cryptocurrency holdings after<\/span> initiall<\/span>y<\/span> entering the market earlier this year. It manages pension fund assets totaling $13.6 billion, <\/span><\/p>\n

In a <\/span>recent disclosure<\/span><\/a> to the Securities and Exchange Commission (SEC), the fund announced its acquisition of $10 million in shares from <\/span>Grayscale\u2019s<\/span> Ethereum Trust (ETHE). This marks a significant shift in its crypto strategy. <\/span><\/p>\n

Interestingly, the Michigan fund now holds more Ethereum than Bitcoin, despite Bitcoin having received regulatory approval from the SEC much earlier. Alongside the Ethereum Trust shares, the fund<\/span> als<\/span>o<\/span> invested an additional $1.1 million in <\/span>Grayscale\u2019s<\/span> Ethereum Mini Trust. <\/span><\/p>\n

The diversification into Ethereum ETFs signifies the <\/span>fund\u2019s<\/span> commitment to exploring a <\/span>wider<\/span> range of digital asset investments, bolstering confidence among crypto enthusiasts regarding the asset <\/span>class\u2019s<\/span> integration into traditional financial systems.<\/span><\/p>\n

The Michigan Retirement System is notably the first state pension fund in the U.S. to invest in Ethereum ETFs, which reflects a significant step toward legitimizing cryptocurrencies in institutional finance. <\/span><\/p>\n

This<\/span> follows the <\/span>fund\u2019s<\/span> previous investment in<\/span> July<\/span>,<\/span> when it purchased $6.6 million worth of ARK 21Shares Bitcoin ETF after the <\/span>SEC\u2019s<\/span> regulatory approval for such investment vehicles in January. <\/span><\/p>\n

EXPLORE:\u00a0<\/span>Top 17+ Best Crypto to Buy Now in September 2024<\/span><\/a><\/strong><\/p>\n

The post Healthcare Tech Firm Semler Increases Bitcoin Holdings To 1058 BTC With $3 Million Purchase<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Healthcare technology firm Semler Scientific has expanded its Bitcoin portfolio. It purchased an additional 47 BTC for $3 million. The acquisition brings the company\u2019s total holdings to 1,058 BTC as part of its ongoing strategy to accumulate Bitcoin. In an\u00a0announcement on 4 November 2024, coinciding with its third-quarter earnings release, Semler emphasized its commitment to […]<\/p>\n","protected":false},"author":0,"featured_media":17996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17995"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17995"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17996"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}