Semler Scientific, a healthcare technology company, revealed on Thursday that it had acquired 303 Bitcoin worth $29.3 million, purchased at an average price of $96,779 between November 25 and December 4.
This adds to the company’s growing Bitcoin treasury, joining a trend seen among other prominent businesses like MicroStrategy, which have also increased their Bitcoin holdings.
Semler Scientific Holds 1,873 BTC Amid Continues
According to the official statement, Semler Scientific corporate Bitcoin treasury now holds a total of 1,873 BTC.
The company acquired these Bitcoins for approximately $147.1 million at an average price of $78,553 per coin.
Semler Scientific has acquired 303 BTC for ~$29.3 million at ~$96,779 per #bitcoin and has generated BTC Yield of 54.7% QTD and 78.7% since adopting our BTC treasury strategy in May. As of 12/4/2024, we held 1,873 $BTC acquired for ~$147.1 million at ~$78,553 per bitcoin. $SMLR
— Eric Semler (@SemlerEric) December 5, 2024
In addition to expanding its Bitcoin holdings, Semler Scientific also disclosed that it raised further funds through its At-the-Market (ATM) offering, a method by which a company can sell its shares directly into the open market, typically through a broker, at prevailing market prices.
The company issued $50 million worth of shares, bringing the total raised through this offering to $100 million.
To date, Semler has generated $79.8 million from these share sales, which has been instrumental in supporting its ongoing Bitcoin treasury strategy.
Semler first announced its intention to adopt Bitcoin as its primary treasury reserve asset in May, when it acquired 581 BTC for $40 million.
Semler Scientific announced a purchase of 581 #bitcoin for $40 million at 9 AM.
Shares have jumped 42.5% on the day and climbing
The corporate BTC balance sheet strategy is literal rocket fuel for your stock price. pic.twitter.com/DhAfCWLiJW— Joe Consorti
(@JoeConsorti) May 28, 2024
At the time, Eric Semler, Chairman of Semler Scientific, emphasized Bitcoin’s potential for substantial returns as it gained broader acceptance as digital gold.
The firm’s recent Bitcoin purchases have substantially boosted its BTC yield, now at 78.7%, up from the previous 54.7%.
Eric Semler expressed satisfaction with this progress, emphasizing the company’s commitment to its growing Bitcoin strategy.
He also shared that the company is working to gain approval for options trading in its stock, believing it now meets the eligibility requirements.
This push to build a larger Bitcoin treasury has had an impact on the company’s stock performance.
Over the past three months, Semler’s stock price has surged by more than 149%, with shares reaching approximately $59 during mid-New York trading on Thursday.
Semler’s recent moves come as Bitcoin continues to capture the attention of major corporations.
MicroStrategy, for example, announced earlier this week the acquisition of 15,400 Bitcoin valued at $1.5 billion, raising its total holdings to 402,100 BTC.
@MicroStrategy has purchased another 15,400 Bitcoin for $1.5 billion, bringing its total holdings to over 402,000 BTC.#Bitcoin $BTC #MicroStrategyhttps://t.co/QToXXxvl1N
— Cryptonews.com (@cryptonews) December 2, 2024
MicroStrategy’s latest purchases make it the largest publicly traded Bitcoin holder, followed by Marathon Digital with 34,959 BTC.
Meanwhile, Semler Scientific ranks as the 13th largest Bitcoin holder among publicly traded companies, solidifying its position in the growing trend of corporate Bitcoin treasury.
Impact on the Bitcoin Ecosystem Amidst BTC’s Recent ATH of $103K
Semler Scientific’s activities come amid Bitcoin’s recent surge to an all-time high of $103,915.
Institutional players, such as BlackRock’s iShares Bitcoin Trust (IBIT), have played a key role in driving this price increase, with open interest (OI) in Bitcoin surpassing $63 billion.
Blackrock Buys 7750 #Bitcoin
They hold over $50 Billion in Assets.
Fastest growing ETF EVER!pic.twitter.com/uJU9MLTlTb
— Thomas | heyapollo.com (@thomas_fahrer) December 6, 2024
As Bitcoin holders celebrate this new all-time high, the milestone has also caught the attention of political leaders.
CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!
Donald Trump Truth Social 07:55 AM EST 12/05/24 @realDonaldTrump— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) December 5, 2024
On the same day, U.S. President-elect Donald Trump posted a congratulatory message on Truth Social, commending Bitcoin holders for their perseverance and reaffirming his commitment to collaborating with the crypto industry.
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