As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of trends come and go, but none have captured my attention quite like Bitcoin. The recent announcement by Eric Semler, chairman of Semler Scientific, that his company has invested another $5 million into Bitcoin is yet another sign that institutional adoption is accelerating at a rapid pace.
Eric Semler, head of Semler Scientific – a healthcare firm, declared that they’ve invested another $5 million in Bitcoin.
As stated in its recent press release on Thursday, the company currently has a total value of $83 million in Bitcoin holdings.
1. According to Semler, the transaction was funded primarily by cash generated from company activities. He also noted with approval the increasing adoption of Bitcoin by institutions, calling it an uplifting trend. Semler foresees an upward movement in Bitcoin’s price due to its rising popularity among institutional investors.
In early June, Semler Scientific gained attention due to its decision to follow the lead of the data analytics company, MicroStrategy, by purchasing approximately $17 million in Bitcoin. Alongside this new Bitcoin approach, they also unveiled their operations within the healthcare sector.
Without a doubt, MicroStrategy continues to lead the pack among publicly traded companies in terms of Bitcoin holdings, with its current assets valued at over $14.4 billion. Following closely behind are Bitcoin mining giant Marathon Digital and electric vehicle manufacturer Tesla in second and third places respectively. Notable corporate entities that also hold Bitcoin include digital asset exchange Coinbase, investment firm Galaxy Digital, as well as crypto mining companies such as Riot Platforms and Hut 8 Mining.
The purchase of Bitcoin isn’t exclusive to companies in North America. For instance, as reported by U.Today, Metaplanet from Japan and MicroStrategy have both recently acquired Bitcoin within the past few weeks.
Although MicroStrategy’s bold Bitcoin investment has surpassed most S&P 500 companies in performance, the use of Bitcoin by corporations is still at a very early stage as of now.
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2024-08-26 21:36