Medical Tech Company Wants to Raise More Cash to Buy Bitcoin

  • 📰 Utoday_en
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Semler Scientific plans to keep buying more Bitcoin

The publicly traded company is currently exploring additional options that would allow it to secure more cash for buying Bitcoin. , the firm announced its decision to buy the largest cryptocurrency back in May. Back then, Selmer stated that he viewed Bitcoin as a hedge against inflation. Taking a page out of the playbook of business intelligence firm MicroStrategy resulted in a massive short-term spike in its stock. Its total Bitcoin holdings have now surpassed $1 million worth of Bitcoin.

Despite its Bitcoin pivot, the company's shares have greatly underperformed this year. They are currently down as much as 32% on the year-to-date basis. In other news, Metaplanet, a Japanese company that has also adopted a MicroStrategy-like Bitcoin strategy, recently made an appearance on CoinShares' BLOCK index.

MicroStrategy remains the overwhelming leader in corporate Bitcoin holdings, with a whopping $17.3 billion worth of Bitcoin. The Virgiania-based company does not plan to stop here, recently a plan to raise $42 billion more in the long term to expand its cryptocurrency coffers. The company's shares have surged by more than 400% over the past year.

Digital Transformation Week Expo Returns to London for Global Edition: Essential Gathering for Innovators in AI, Automation, and Digital Strategy

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 295. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines