Semler Scientific Acquires More Bitcoin For $29 Million

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As a seasoned crypto investor who has weathered numerous market cycles since the early days of Bitcoin, I find Semler Scientific’s strategic move to acquire additional Bitcoins quite intriguing. With their recent purchase of 303 BTC for $29M, they’ve not only increased their holdings significantly but also demonstrated a keen understanding of the market dynamics.

Semler Scientific, a healthcare tech firm, recently bought another 303 Bitcoins for around $29.3 million. This purchase took place between November 25 and December 4, 2024, using funds from the company’s at-the-market (ATM) offering. They made this acquisition at an average price of approximately $96,779 per Bitcoin, taking into account additional costs and charges.

Semler Scientific Purchases Additional 303 BTC For $29M, Boosts Holdings to 1,873

As reported in a recent announcement, Semler Scientific boosted its Bitcoin portfolio by buying 303 Bitcoins for approximately $29.3 million. This purchase took place over a span of ten days, concluding on December 4, 2024. The average cost per Bitcoin was around $96,779, considering all fees and additional expenses.

After completing this transaction, I’ve boosted our Bitcoin portfolio to a total of 1,873 coins, currently valued at approximately $147.1 million. Our approach to Bitcoin investing involves utilizing our capital market activities to expand our digital assets.

Just now, it was disclosed that the healthcare firm has bought 297 Bitcoins worth a combined $29.1 million from November 18 to November 22, 2024. This adds up to their existing Bitcoin assets, amounting to approximately 1,570 BTC, which are valued at around $117.8 million. They acquired these Bitcoins at an average price of roughly $97,995 per Bitcoin, including related charges.

ATM Offering Fuels Bitcoin Purchases

Significantly, Semler Scientific financed its latest Bitcoin purchases through funds generated by its on-going at-the-market (ATM) sale. In November, they submitted an amended prospectus to their current registration statement, raising the overall offering amount to a maximum of $100 million.

By December 4, 2024, I’ve successfully raised a staggering $79.8 million via an At-the-Market (ATM) offering, all managed under a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. This strategic move has significantly boosted my crypto venture’s financial standing.

With the new financial resources, Semler Scientific has been able to invest in Bitcoin and strategically carry out its business plans. As a result, they have built up a significant amount of Bitcoin assets without compromising their cash flow.

Beyond this, Semler Scientific employs BTC Yield as a performance indicator, measuring the profit from its Bitcoin purchasing approach. Between October 1 and December 4, 2024, the company disclosed a BTC Yield of 54.7%, with their total yield since implementing their Bitcoin treasury strategy in July 2024 amounting to 78.7%.

This key measure highlights the business’s strategy for enhancing shareholder worth by investing in Bitcoin. The published Bitcoin Return on Investment (BTC ROI) demonstrates how their buying approach aligns with market trends and capital production endeavors.

Currently, Bitcoin is being exchanged for approximately $103,242, showing an increase of 7% in the last 24 hours. Its market capitalization has now surpassed $2.04 trillion, with a 24-hour trading volume of $132.57 billion – a significant rise of 116%. The price saw a robust recovery from around $95,980 to over $103,000, sustaining an upward trend.

After the surge in Bitcoin’s value, there has been an increase in its usage, as more businesses are incorporating cryptocurrencies into their business plans. Recently, Worksport, a US-based company, declared they will incorporate Bitcoin and Ripple into their corporate reserves, planning to buy up to $5 million worth of these digital currencies.

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2024-12-05 18:46