Semler Scientific buys more Bitcoin as profits rise
The company bought 141 bitcoins during the quarter
In Q3 2024, medical company Semler Scientific posted $5.6 million in net profit and increased its Bitcoin holdings to 1,058 BTC.
According to the financial report, Semler Scientific’s net profit for the third quarter rose to $5.6 million compared to $5.5 million for the same period last year, while revenue declined by 17% to $13.5 million.
In Q3, Semler Scientific purchased an additional 141 BTC for $8.4 million, bringing its total holdings to 1,058 BTC. The company plans to continue buying Bitcoin while maintaining its core healthcare business.
What Semler Scientific Does
Semler Scientific is an American company that develops and sells medical diagnostic devices and software, primarily used for cardiovascular disease screening.
The company’s main product, QuantaFlo, is designed for rapid screening of peripheral artery disease (PAD), which is associated with artery blockage and increases the risk of heart disease. This product helps detect early stages of PAD, assisting physicians in making informed decisions to prevent complications.
In spring 2024, Semler Scientific adopted a Bitcoin strategy as part of its long-term investment policy, using Bitcoin to accumulate and preserve capital. Following in the footsteps of companies like MicroStrategy, Semler Scientific began adding Bitcoin to its balance sheet to hedge against inflation and strengthen its financial position.
As a reminder, Japanese investment firm Metaplanet Inc. was included in the CoinShares Blockchain Global Equity Index after actively purchasing Bitcoin.
