Semler Scientific Increases Bitcoin Holdings Amid Rising Market Prices
Semler Scientific, a renowned medical device manufacturer listed on Nasdaq, has strategically expanded its Bitcoin (BTC) reserves. Recently, the company purchased an additional 303 BTC for a total of $29.3 million, reinforcing its commitment to a corporate treasury strategy inspired by MicroStrategy.
Record Bitcoin Prices Do Not Deter Corporate Acquisitions
This week, Bitcoin reached an unprecedented milestone by crossing the $100,000 mark, boosting its market capitalization beyond $2 trillion. Despite the soaring prices, companies like Semler Scientific remain steadfast in their accumulation of Bitcoin, the leading cryptocurrency.
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Semler Scientific’s latest Bitcoin acquisition, conducted between November 25 and December 4, involved buying 303 BTC at an average price of $96,779, including fees and expenses. This acquisition elevates the company’s total Bitcoin holdings to 1,873 BTC, procured at a cumulative cost of $147.1 million, averaging $78,553 per BTC. With these significant holdings, Semler Scientific ranks among the top publicly-listed firms integrating Bitcoin into their corporate treasury strategies.
Between October 1 and December 4, Semler’s Bitcoin yield was 54.7%, a slight decline from the 78.7% yield recorded since adopting Bitcoin as a corporate asset on July 1. Eric Semler, Chairman of Semler Scientific, expressed satisfaction with the 78.7% BTC yield. He also mentioned the company’s pursuit of approval from options exchanges to trade options in their stock, citing eligibility criteria compliance.
BTC yield remains a pivotal performance metric for Semler, helping gauge the success of its Bitcoin investment strategy aimed at maximizing shareholder value. This metric also assists investors in understanding the rationale behind financing Bitcoin acquisitions through additional common stock issuance.
Semler Scientific’s Bitcoin Holdings Compared to Other Corporations
Semler Scientific initially revealed its Bitcoin acquisition strategy in May, starting with a purchase of 581 BTC for $40 million. Since then, the company has been actively expanding its Bitcoin assets, culminating in a current total of 1,873 BTC.
With its latest Bitcoin purchase, Semler Scientific has ascended to the 14th position, surpassing Japanese corporation Nexon, which holds 1,717 BTC. This places Semler Scientific prominently among publicly-traded companies with Bitcoin reserves as part of their corporate treasury strategies.
Leading this sector is the US-based business intelligence firm MicroStrategy, known for its substantial Bitcoin acquisitions amounting to billions of dollars. MicroStrategy owns nearly 2% of Bitcoin’s finite 21 million supply. Following MicroStrategy, major players include crypto mining firms like MARA with 33,875 BTC, Riot Platforms holding 10,019 BTC, and Tesla, led by Elon Musk, with 9,720 BTC.
Currently, Bitcoin is valued at $99,355, reflecting a 3.8% decline over the past 24 hours.
