Emily Walker
Semler Scientific, a healthcare tech company listed on Nasdaq, has purchased an additional 297 Bitcoin (BTC) for $29.1 million as Bitcoin approaches the notable milestone of $100,000.
Expansion of BTC Holdings by Semler Scientific
The firm announced its new BTC acquisition today, occurring at a moment when BTC’s price has slightly retreated from its peak of over $98,000. Now, Semler Scientific holds a total of 1,570 BTC, with an overall investment of $117.8 million, bringing the average purchase price to around $75,039 per Bitcoin.
As stated in the announcement, this latest acquisition occurred between November 18 and November 22, with the 297 BTC purchased at an average price of $97,995, including any fees and related costs.
Alongside its BTC purchases, Semler Scientific reported a solid growth in its Bitcoin Yield performance, reaching 37.1% from October 1 to November 22. This figure is a decrease compared to the 58.4% BTC Yield recorded from July 1 to November 22. CEO Eric Semler shared his thoughts:
We are excited to announce a 58.4% BTC Yield and the substantial strides we are making in accumulating Bitcoin on our balance sheet beneficially for our stakeholders.
Previously, in May, Semler Scientific had declared its strategy to use BTC as a reserve asset, starting with a purchase of 581 BTC valued at $40 million. This was followed by an acquisition of 83 BTC in August for $5 million and an additional 47 BTC earlier this month for $3 million.
Speculations Surrounding a US Strategic Reserve Boosting Bitcoin Interest
The recent Bitcoin acquisition by Semler Scientific coincides with rising speculations regarding the establishment of a US national Strategic Bitcoin Reserve (SBR). Other companies, like MicroStrategy and Metaplanet, have also been increasing their Bitcoin holdings in light of this speculation.
In this context, it’s anticipated that US president-elect Donald Trump will initiate the creation of a national SBR, potentially triggering a rush among businesses and countries to amass Bitcoin, which is a limited digital resource.
If the Trump administration proceeds with forming a national SBR, the US could align itself with countries like El Salvador and Bhutan, which actively gather BTC to protect against economic fluctuations.
The US entering the Bitcoin accumulation realm could serve as a major bullish driver for the cryptocurrency, especially as Trump’s inauguration date approaches, prompting various entities globally to prepare for a potential shift in US Bitcoin policies.
Currently, BTC trades at $95,980, reflecting a 0.3% decrease in the last 24 hours, with the overall crypto market cap standing at $3.47 trillion, showing a 1.2% increase in the past day.
