Semler Scientific, a healthcare technology firm, has purchased an additional 47 BTC for $3 million, bringing its total holdings to 1,058 BTC. This follows the company’s previous investment of 141 BTC for $8.4 million in the third quarter of 2024. Semler Scientific plans to continue purchasing Bitcoin using operational cash flow and proceeds from its at-the-market (ATM) program, which allows for the sale of up to $50 million in common stock.
The company’s CEO, Doug Murphy-Chutorian, has reaffirmed Semler’s commitment to both Bitcoin and its healthcare business. As for the stock market, Semler’s shares closed down 2.3% at $29.97 on Monday, but experienced a 3.4% uptick in after-hours trading. Over the past month, the stock has risen 18.1%, but remains down 32.1% for the year.
Meanwhile, the State of Michigan Retirement System is diversifying its cryptocurrency holdings. It recently announced its acquisition of $10 million in shares from Grayscale’s Ethereum Trust (ETHE) and an additional $1.1 million in Grayscale’s Ethereum Mini Trust. The Michigan fund now holds more Ethereum than Bitcoin, despite Bitcoin having received regulatory approval from the SEC much earlier.
The diversification into Ethereum ETFs signifies the fund’s commitment to exploring a wider range of digital asset investments, bolstering confidence among crypto enthusiasts regarding the asset class’s integration into traditional financial systems. The Michigan Retirement System is the first state pension fund in the U.S.
to invest in Ethereum ETFs, marking a significant step toward legitimizing cryptocurrencies in institutional finance. Source: Business Insider
