In a recent post on Reddit, Eric Semler, Chairman of Californian tech firm Semler Scientific, announced that the company has expanded its Bitcoin (BTC) holdings by purchasing 273 units of the cryptocurrency.
Strategic Bitcoin acquisition amid price volatility
Lately, the company suffered a loss of around $23.3 million due to the latest purchase in traditional currency. This strategic move took place when Bitcoin’s price was fluctuating bearishly. On average, each coin cost about $98,267 during the acquisition.
Significantly, since implementing its Bitcoin investment approach in May 2024, Semler Scientific has earned a Bitcoin return of about 99.3%. As of January 10, 2025, the company’s Bitcoin holdings amount to 2,231 coins. The combined cost of acquiring these Bitcoins is roughly $191.9 million.
Semler Scientific purchased approximately 237 Bitcoins for around $23.3 million, with each Bitcoin costing roughly $98,267. Since implementing our Bitcoin treasury strategy in May 2024, we’ve earned a yield of nearly 100%. As of January 10, 2025, we own a total of 2,321 Bitcoins, which cost us approximately $191.9 million, with each Bitcoin valued at around $82,687. SMLR is the stock symbol for Semler Scientific.
— Eric Semler (@SemlerEric) January 13, 2025
The average cost at which Semler Scientific purchased their entire Bitcoins portfolio was approximately $82,687 per Bitcoin. Currently, the price of one Bitcoin is $90,911.17, indicating a decrease of about 4.09% in the last 24 hours.
Despite the drop in price, the trading activity for this asset has significantly increased by 152.98%, reaching a volume of $48.06 billion. Moreover, in the past 24 hours, Bitcoin’s price has varied between a low of $90,183.63 and a high of $95,837, indicating that the bullish and bearish sentiments are currently balanced. This suggests that investors’ interest and confidence in Bitcoin remain undeterred by the recent price decline.
Corporate players inspired by MicroStrategy’s success
Similar to MicroStrategy, Semler Scientific has persisted in its Bitcoin buying approach. Notably, MicroStrategy outpaces all corporate peers in this regard, having amassed a total of 447,470 Bitcoins.
MicroStrategy has paved the path for corporate acquisitions, serving as an example for companies such as Semler Scientific and Metaplanet.
Numerous corporations that have invested in Bitcoin have witnessed substantial returns similar to those experienced by MicroStrategy. In fact, MicroStrategy’s stock (MSTR) has grown faster than any other stock within the S&P 500 index, due in part to its Bitcoin investment. This success story has sparked increased interest and adoption among corporate entities.
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2025-01-13 18:49