Bitcoin Adoption Skyrockets, Semler Scientific Buys $21.5M in BTC

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Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization is gaining significant attention from institutions and crypto whales.

Semler Scientific’s $21.5 Million BTC Acquisition

On December 16, 2024, Semler Scientific, a company that provides medical technology for early chronic disease detection acquired 211 BTC worth $21.5 million, as reported by Eric Semler, the chairman of the firm.

In a post on X (formerly Twitter), the chairman noted that this purchase was made at $101,890 per BTC. This acquisition follows MicroStrategy’s (MSTR) recent purchase of 15,350 BTC for $1.5 billion, as reported by CoinPedia.

Additionally, the chairman stated that the firm has generated a BTC yield of 67.00% quarter-to-date (QTD) and 92.8% since adopting BTC as part of its treasury strategy in May 2024.

Semler Scientific’s BTC Holdings Soar

With the recent purchase by Semler Scientific, the firm’s BTC holdings have soared to 2,084, acquired for a total of $168.6 million. This indicates that the company has obtained its notable BTC holdings at an average price of $80,916 per Bitcoin.

This marks the third BTC purchase by the firm in the past two months. The first purchase occurred on November 25, 2024, when the firm invested $29.1 million in cash, followed by another purchase on December 5, 2024. However, with these BTC purchases by industry giants, the price of BTC has shown strong momentum.

Bitcoin Price Momentum

Currently, BTC is trading near $103,756, having surged by over 1.15% in the past 24 hours. During the same period, its trading volume increased by 61%, indicating heightened participation from investors and traders as the price continues to trend upward.