As an analyst with over two decades of experience in the financial market, I have seen countless companies adopt various strategies to secure their future and maximize shareholder value. The recent move by Semler Scientific to invest in Bitcoin, a decision that has been repeated multiple times since July 2021, is one that catches my attention for several reasons.
Semler Scientific, the tech company specializing in healthcare, has boosted its Bitcoin reserves yet again by investing $30 million, now owning a total of 1,873 Bitcoins.
As stated in an official announcement, Semler Scientific acquired a total of 303 Bitcoins between November 25 and December 4. The cost per Bitcoin, inclusive of all fees and expenses, averaged approximately $96,779. These purchases were financed using the funds raised from their at-the-market shares offering.
Semler Announces New BTC Purchase
After making a recent purchase, Semler revealed they spent approximately $147.1 million to buy their bitcoins, with each asset costing an average of around $78,553. Given that the current price of bitcoin is about $98,450, this collection is now valued at over $184.39 million. And when bitcoin surpassed $103,000 on December 5, Semler’s portfolio was worth more than $192 million.
At the moment, the healthcare provider stands to gain as much as $37.29 million in untapped profits. The company recently disclosed that their Bitcoin earnings for the period between October 1 and December 4 were a substantial 54.7%, indicating impressive growth over this quarter. Since adopting its Bitcoin treasury strategy on July 1, 2024, the firm has amassed a Bitcoin yield of 78.7%.
Eric Semler, chairperson at Semler’s, expressed his delight in announcing a BTC Yield of 78.7%. Moreover, they’ve applied for permission from the options markets to enable trading of our shares as we think we meet their prerequisites.
The 14th Largest Public BTC Holder
Over the past seven months, Semler Scientific has made periodic investments in Bitcoin using the revenue generated from selling its common shares.
Recently, a new acquisition of Bitcoin was made in mid-November, amounting to 297 BTC for Semler’s Bitcoin holdings. This addition brought their total Bitcoin reserves up to 1,570 BTC. After the latest purchase, their Bitcoin portfolio now totals 1,873 BTC, placing Semler among the top 14 largest public companies in terms of Bitcoin holdings, according to data from BitBo’s Bitcoin treasuries site.
Currently, Semler Scientific isn’t the only business buying Bitcoin quickly. Just this week, MicroStrategy, a well-known business intelligence firm and one of the largest publicly traded Bitcoin holders, announced it had boosted its holdings to 402,100 coins by purchasing an additional 15,400 bitcoins, valued around $1.5 billion.
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2024-12-06 23:24