Semler Scientific, a Nasdaq-listed healthcare technology firm, has acquired an additional 297 Bitcoin (BTC) for $29.1 million. The purchase comes as Bitcoin nears the much-anticipated $100,000 milestone.
Semler Scientific Expands BTC Holdings
the company disclosed Its latest BTC acquisition coincides with a slight pullback in BTC’s price from its recent high of over $98,000 earlier today. With the addition of 297 BTC, Semler Scientific’s total holdings are now 1,570 BTC, acquired at a cumulative cost of $117.8 million. The average purchase price of its BTC reserves is around $75,039 per bitcoin.
According to the announcement, the latest BTC acquisition was made between November 18 and November 22. 297 BTC were purchased at an average price of $97,995 including fees and related charges.
In addition to buying BTC, Semler Scientific revealed strong growth in its Bitcoin yield performance. Specifically, from October 1 to November 22, the firm’s BTC yield stood at 37.1%. This is slightly lower than its BTC yield from July 1 to November 22, which was close to 58.4%. Commenting, Eric Semler, CEO of Semler Scientific, said:
We are very happy to report a 58.4% BTC yield and the great progress we have made to accumulate Bitcoin on our balance sheet in a high level way for our stakeholders.
To recall, in May, Semler Scientific announced It adopted BTC as a strategic reserve asset. The company’s first BTC purchase was worth 581 BTC worth $40 million at current market prices.
In August, the company Added Another 83 BTC to its holdings of $5 million at current market prices. In particular, earlier this month Semlar Scientific the scoop Another 47 BTC for $3 million.
US Strategic Reserve Speculation Fuels Bitcoin FOMO
Semler Scientific’s latest bitcoin purchase coincides with growing speculation about the creation of a US National Strategic Bitcoin Reserve (SBR). Companies like Micro strategy And Metaplanet Amidst this speculation are also increasing their Bitcoin reserves.
For the uninitiated, the President-elect of the US is Donald Trump is expected To establish a national SBR. The move could spark a global rush among corporations and countries to amass bitcoin, a finite digital asset.
If the Trump administration were to create a national SBR, the US could join the ranks of a handful of countries El Salvador And Bhutan Actively accumulating BTC as a hedge against macroeconomic uncertainties.
BTC accumulation entering the game has the potential to be one of the most significant bullish catalysts in US digital asset history. As Trump’s inauguration date approaches, Institutions US Bitcoins worldwide are taking preemptive steps to take advantage of a potential change in policy.
BTC is trading at $95,980 at press time, down 0.3% in the last 24 hours. The total crypto market cap is $3.47 trillion, up 1.2% in the last 24 hours.
Featured image from Unsplash.com, Chart from TradingView.com
