Healthcare infrastructure firm Semler Scientific is planning to accumulate 10,000 Bitcoin by this year and targets 105,000 Bitcoin by 2027. The company has appointed BTC expert Joe Burnett as Director of Bitcoin Strategy to help lead its ambitious plans.
Semler Scientific already holds 4,449 Bitcoin in its stash and is the second U.S. publicly traded company to adopt Bitcoin as its primary treasury reserve asset.
Per the Thursday announcement, the firm aims to use proceeds from equity and debt financings and cash flows from operations.
Former Director at Unchained to Lead Semler Scientific’s BTC Strategy
Bitcoin research expert Joe Burnett recently told Cryptonews that BTC is “more scarce and portable than gold.” He has been publicly making the case for Bitcoin as the world’s most advanced form of monetary tech.
Burnett served as the director of market research at Unchained before joining Semler Scientific, contributing to helping institutional Bitcoin adoption by offering collaborative custody solutions.
“We are excited to have Joe join our Bitcoin strategy team and help drive our three-year-plan to own 105,000 Bitcoins,” said Eric Semler, chairman of Semler Scientific.
“It’s time to build one of the most valuable companies in the world,” wrote Burnett on X.
Corporate Bitcoin Holders Maintain Similar Goals
Semler Scientific’s aim to accumulate 10,000 Bitcoin by 2025 mirrors some of the leading Bitcoin holders’ strategy.
For instance, Japanese investment giant Metaplanet has similar plans to accumulate 10,000 BTC by this year and has already reached its target this month. The Tokyo-listed firm aims to amass 210,000 BTC by 2027, targeting 1% of Bitcoin’s total supply.
Early this month, Semler Scientific publicly announced it has increased its Bitcoin holdings, acquiring 185 Bitcoin between May 23 and June 3 for $20 million.
SMLR Stock Surges Nearly 12%
Following the ambitious BTC accumulation announcement on Thursday, stocks of Semler Scientific (SMLR) surged 11.95%, to $31.94 during after hours.
“We continue to accretively grow our bitcoin arsenal using operating cash flow and proceeds from debt and equity financings,” said Eric Semler in May, disclosing the company’s first quarter financial results.
Meanwhile, Bitcoin is currently trading at $104,507 at press time, registering a 24-hour loss of 0.77%, per CoinMarketCap.
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