As a seasoned researcher with a keen interest in both technology and finance, I find myself intrigued by the strategic moves of Semler Scientific. The company’s latest Bitcoin acquisition of 297 BTC for $29.1 million reflects a well-thought-out strategy to strengthen its balance sheet amid growing interest in digital assets.
Semler Scientific, a tech firm specializing in healthcare, disclosed a recent development regarding its Bitcoin investments. From November 18 to November 22, 2024, they bought an extra 297 Bitcoins at an average cost of approximately $97,995 per coin, totaling $29.1 million, factoring in related fees.
$29.1M Bitcoin Buy Pushes Semler Scientific’s Holdings Past 1,500 BTC
As an analyst, I’ve recently learned that Semler Scientific has amplified its Bitcoin holdings to a grand total of 1,570 Bitcoins. These acquisitions, made at an aggregate cost of approximately $117.8 million, represent an average price of roughly $75,039 per Bitcoin.
From November 18th through November 22nd, 2024, the company purchased 297 Bitcoins for a total of $29.1 million, with each Bitcoin costing on average $97,995. This recent purchase underscores Semler Scientific’s dedication to its Bitcoin strategy, as they seek to fortify their financial position by investing in digital assets, which are increasingly seen as a viable alternative reserve option.
This latest purchase is not the first this month, as the healthcare technology startup increased its Bitcoin holdings to 1,058 BTC earlier in November, investing $3 million at an average price of $67,500 per BTC.
ATM Offering Secures $50M to Fund Bitcoin Strategy
Moreover, the company managed to secure an extra $50 million through its At-the-Market (ATM) offering, bringing the total funds raised up to $100 million under their Controlled Equity Offering contract. This newly acquired capital will be used for ongoing operational expenses and potential future Bitcoin acquisitions, further solidifying their strategic approach to financial management.
The ATM offering aligns with Semler Scientific’s strategy to fund its Bitcoin investments through equity sales. This financial mechanism has allowed the company to increase its cryptocurrency holdings since adopting the strategy.
To add, Semler Scientific’s BTC Yield, a significant measure of performance, showcases the success of its Bitcoin treasury approach, earning 58.4% since its launch in July 2024. This figure demonstrates the company’s knack for yielding impressive returns on their Bitcoin holdings.
Despite this, MicroStrategy stands out among other public companies due to its aggressive acquisition of Bitcoin. More recently, they declared the purchase of an extra 55,500 Bitcoins for approximately $5.4 billion, which equates to an average price of around $97,862 per coin.
The Bitcoin strategy of Semler Scientific can be explained by the growing tendency of public corporations worldwide to add digital assets to their portfolios. Due to such attention, Bitcoin continues to set itself as a relevant asset for corporate treasuries.
Currently, Bitcoin’s price is continuing its upward trend, sitting at $94,837.24, and has increased by 5.27% in the last week. This rise is due to large Bitcoin investors (often referred to as “whales”) purchasing when prices drop. The total market capitalization now amounts to $1.88 trillion, and the 24-hour trading volume has spiked by 42%, reaching $69.13 billion.
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2024-11-25 23:35