The American medical technology company Semler Scientific has announced its intention to raise $500 million through the issuance of securities, part of which it plans to invest in the purchase of Bitcoin. This move is part of a $29.75 million settlement with the U.S. Department of Justice arising from alleged violations of federal anti-corruption laws during the marketing of the QuantaFlo product.
This is reported by Finway
Company Plans for Cryptocurrency Investment
Semler Scientific intends to use the net proceeds for general corporate purposes, including investments in Bitcoin. The company is known to already hold 3,192 BTC, placing it 12th among public companies in terms of cryptocurrency reserves, according to data from Bitcoin Treasuries.
Additionally, the company plans to use Bitcoin as collateral for a loan on the Coinbase platform to pay the fine to the Department of Justice.
Bitcoin as a Capital Preservation Strategy
In its official statement, Semler Scientific notes:
“We view Bitcoin as a reliable store of value and an attractive investment… It has unique characteristics of a scarce asset, making it a sound hedge against inflation and a ‘safe haven’ amid global instability”
. Analysts at Wintermute also consider Bitcoin to be a resilient asset in light of the current macroeconomic instability in the cryptocurrency market.