Semler Scientific, a Nasdaq-listed healthcare technology firm, has acquired an additional 297 Bitcoin (BTC) for $29.1 million. The purchase comes as Bitcoin edges closer to the highly anticipated $100,000 milestone.
Semler Scientific Expands BTC Holdings
The company disclosed its latest BTC acquisition earlier today, coinciding with a slight pullback in BTC’s price from its recent high of over $98,000. With the addition of 297 BTC, Semler Scientific’s total holdings now stand at 1,570 BTC, acquired at a cumulative cost of $117.8 million. The average purchase price of its BTC reserves is approximately $75,039 per Bitcoin.
According to the announcement, the latest BTC acquisition was made between November 18 and November 22. The 297 BTC were purchased at an average price of $97,995, including fees and related expenses.
In addition to buying BTC, Semler Scientific disclosed 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, the CEO of Semler Scientific said:
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.
To recall, in May, Semler Scientific announced it had adopted BTC as a strategic reserve asset. The company’s first BTC purchase was of 581 BTC worth $40 million at prevailing market prices.
In August, the company added another 83 BTC to its holdings worth $5 million at prevailing market prices. Notably, earlier this month Semler Scientific scooped another 47 BTC for $3 million.
US Strategic Reserve Speculations Igniting Bitcoin FOMO
Semler Scientific’s latest Bitcoin purchase aligns with growing speculation about creating a US national Strategic Bitcoin Reserve (SBR). Companies like MicroStrategy and Metaplanet have also been increasing their Bitcoin reserves amid this speculation.
For the uninitiated, US president-elect Donald Trump is expected to establish a national SBR. This move could trigger a global rush among corporations and nations to accumulate Bitcoin, a finite digital asset.
Should the Trump administration create a national SBR, the US could join the ranks of a handful of countries like El Salvador and Bhutan actively accumulating BTC as a hedge against macroeconomic uncertainties.
The US entering the BTC accumulation game holds the potential to be one of the most significant bullish catalysts in the digital asset’s history. As Trump’s inauguration date comes closer, entities worldwide are taking preemptive steps to capitalize on the potential shift in US Bitcoin policy.
BTC trades at $95,980 at press time, down 0.3% in the past 24 hours. The total crypto market cap is $3.47 trillion, up 1.2% in the past 24 hours.
Featured Image from Unsplash.com, Chart from TradingView.com