U.Today – Semler Scientific (NASDAQ:), a California-based medical technology and software company, has acquired a large amount of (BTC). According to Chairman and Founder Eric Semler, in a post by X, the company acquired 303 BTC for approximately $29.3 million.
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The average cost of recent Bitcoin purchases was approximately $96,799 per BTC. Semler Scientific claims that its acquisition of BTC has resulted in a quarter-to-date (QTD) Bitcoin yield of 54.7% so far. This number is 78.7% since adopting Bitcoin as a financial strategy in May of this year.
With the recent additions, Semler Scientific's cumulative Bitcoin holdings now stands at 1,873 BTC. The total transportation cost was $147.1 million, with an average acquisition price of $78,553 per Bitcoin.
The current price of Bitcoin at the time of this writing is trading at $102,411, and Semler Scientific has already made a profit of $1,700,436 on the purchase of 303 BTC. However, based on a total holding of 1,873 BTC, Semler's profit margin is approximately $44,686,034.
This margin highlights Bitcoin's profitability for Semler Scientific since betting on the asset. This shows that the company's approach goes beyond traditional financial investment strategies.
Will businesses be more likely to adopt Bitcoin?
Semler Scientific's investment in Bitcoin as part of its corporate strategy mirrors MicroStrategy's investment. The business intelligence firm recently added 15,400 BTC worth about $1.5 billion to its Bitcoin bag. MicroStrategy currently holds a staggering 402,100 BTC, which is 2% of all Bitcoins.
Michael Saylor, Executive Chairman of MicroStrategy, remains a Bitcoin enthusiast and has an unwavering belief in Bitcoin assets.
Saylor recently gave a three-minute presentation to Microsoft's board of directors on why the tech giant should embrace Bitcoin. Saylor consistently emphasizes that Bitcoin has outperformed all stocks in MicroStrategy's S&P 500 index and recommends it to others.
Besides Semler Scientific, Japanese listed company Metaplanet is also following MicroStrategy's plan in acquiring Bitcoin. As of October, Metaplanet had raised its total Bitcoin holdings to 1,018.17 BTC.
This article was originally published on U.Today
