Semler Scientific Buys $88M in Bitcoin, Experiences 150% Paper Achieve

Healthcare know-how agency Semler Scientific has expanded its Bitcoin holdings, buying 871 BTC for $88.5 million over the previous few weeks.

Based on a Feb. 4 press launch, Semler bought Bitcoin between Jan. 11 and Feb. 3 at a median value of $101,616 per BTC.

The agency’s Bitcoin treasury technique, which started final yr, has yielded a 152% return since July 1. Up to now in 2024, it has recorded a 22% achieve.

Semler Holds 3,192 BTC

As of Feb. 3, Semler holds 3,192 BTC, acquired at a complete price of $280 million, with a median value of $87,854 per coin.

At present market costs, its Bitcoin holdings are valued at roughly $313 million.

The corporate funded its Bitcoin purchases via a senior convertible notes providing and the partial monetization of its minority stake in Monarch Medical Applied sciences.

On Jan. 23, Semler introduced plans to lift $75 million via a personal providing of convertible senior notes to additional its Bitcoin technique.

Semler Scientific chairman Eric Semler expressed confidence within the firm’s Bitcoin strategy, stating, “We’re thrilled with the progress we’re making in rising our Bitcoin stockpile.”

He additionally highlighted the strategic resolution to leverage its Monarch Medical funding to extend Bitcoin acquisitions.

With its newest purchases, Semler now ranks because the Tenth-largest company holder of Bitcoin, in keeping with Bitcoin Treasuries.

The corporate stays dedicated to its Bitcoin-focused technique, with CEO Doug Murphy-Chutorian beforehand affirming that Semler is “laser-focused” on accumulating BTC.

In the meantime, MicroStrategy, the world’s largest company Bitcoin holder, has quickly paused new acquisitions, sustaining its 471,107 BTC stash, presently valued at round $46 billion.

U.S. States On Verge of Adopting Bitcoin Reserve

Only recently, an Ohio state senator launched a second invoice geared toward making a Bitcoin reserve fund, positioning the state as a pacesetter in cryptocurrency adoption.

The proposed laws would enable the state treasurer to take a position public funds solely in Bitcoin (BTC) to determine an “Ohio Bitcoin Reserve Fund.”

Beforehand, New Hampshire and North Dakota launched laws to determine strategic Bitcoin reserves, marking a rising development amongst U.S. states to diversify their treasuries with cryptocurrency.

Likewise, on 12 December 2024, Texas Consultant Giovanni Capriglione launched the Texas Strategic Bitcoin Reserve Act, which proposes that the state comptroller maintain Bitcoin as a reserve asset for a minimum of 5 years.

Pennsylvania took an analogous step in November, with Consultant Mike Cabell proposing a invoice to permit its treasury to allocate as much as 10% of its stability sheet in Bitcoin, citing the asset’s potential to hedge towards financial uncertainty.

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