Eric Semler, the chairman of healthcare company Semler Scientific, has announced that his company has purchased an additional $5 million worth of Bitcoin. 

The company now holds a total of $83 million worth of Bitcoin, according to its Thursday press release. 

The purchase was made with primary cash from the company's operations, according to Semler. The executive took note of Bitcoin's growing institutional adoption, describing such a development as encouraging. Semler has predicted that the Bitcoin price is going to increase due to its growing acceptance among institutional investors. 

Semler Scientific initially made headlines in early June by taking a page out of the playbook of business intelligence firm MicroStrategy by acquiring $17 million worth of Bitcoin. The firm introduced its new Bitcoin strategy alongside its healthcare business. 

MicroStrategy, of course, remains the top publicly listed company by total Bitcoin holdings with its current holdings surpassing $14.4 billion. Bitcoin mining giant Marathon Digital and e-car manufacturer Tesla come in second and third places, respectively. Other major corporate holders of Bitcoin include such crypto-native names as Coinbase, Galaxy Digital, and such crypto mining companies as Riot Platforms and Hut 8 Mining. 

Corporate Bitcoin adoption is not limited to North America. As reported by U.Today, Metaplanet, Japan's MicroStrategy, bought more Bitcoin earlier this month. 

Despite the fact that MicroStrategy has outperformed the vast majority of S&P 500 companies with its audacious Bitcoin bet, corporate Bitcoin adoption remains in its nascency so far.