Semler Scientific, a healthcare-focused technology company, recently announced an update on its Bitcoin holdings, revealing the acquisition of an additional 297 BTC between November 18 and November 22, 2024. The company spent $29.1 million on these purchases, with an average price of $97,995 per Bitcoin. This latest purchase has pushed Semler Scientific’s Bitcoin holdings past 1,500 BTC, totaling 1,570 BTC with a cumulative cost of $117.8 million, reflecting an average price of $75,039 per Bitcoin. The company’s commitment to its Bitcoin strategy is evident as it aims to strengthen its balance sheet amid growing interest in digital assets as an alternative reserve.
The healthcare technology startup has been actively increasing its Bitcoin holdings this month, with a previous acquisition of 1,058 BTC earlier in November, investing $3 million at an average price of $67,500 per BTC. In addition to these acquisitions, Semler Scientific raised $50 million through its at-the-market (ATM) offering, bringing the total amount raised to $100 million under its Controlled Equity Offering agreement. The additional capital raised through the ATM offering is allocated to operational needs and future Bitcoin purchases, reinforcing the company’s treasury management approach.
Semler Scientific’s strategy to fund its Bitcoin investments through equity sales aligns with its focus on increasing its cryptocurrency holdings since adopting the strategy. The company’s BTC Yield, a key performance indicator, has been effective, achieving 58.4% since its inception in July 2024, highlighting its ability to generate substantial returns on its Bitcoin investments. Despite MicroStrategy being one of the most active public companies in accumulating Bitcoin, Semler Scientific’s Bitcoin strategy reflects the growing tendency of public corporations worldwide to add digital assets to their portfolios, positioning Bitcoin as a relevant asset for corporate treasuries.
As Bitcoin price continues to maintain its bullish rally, trading at $94,837.24 with a 5.27% gain over the past seven days, BTC whales have been buying the dip. The market cap now stands at $1.88 trillion, with a 24-hour trading volume surging by 42% to $69.13 billion. This market trend underscores the continued relevance of Bitcoin as an asset class for both institutional and corporate investors. With Semler Scientific’s strategic approach to increasing its Bitcoin holdings and generating returns on its investments, the company is well-positioned to navigate the evolving landscape of digital assets and secure its financial future.
