Semler Scientific Boosts Bitcoin Holdings, Now Among Top 10 Corporate BTC Holders

Semler Scientific, a healthcare technology and software firm, has significantly expanded its Bitcoin holdings, acquiring 871 BTC for $88.5 million in recent weeks. This purchase, made between January 11 and February 3, brings Semler’s total Bitcoin stash to 3,192 BTC, valued at approximately $313 million at current market prices. With this acquisition, Semler has solidified its position as the 10th-largest corporate holder of Bitcoin, according to Bitcoin Treasuries.

Impressive Yield and Investment Growth

Semler's Bitcoin investment strategy has proven to be highly profitable, as the firm reported an impressive yield of 152% from July 1, 2023, to February 3, 2024. This marks the first full quarter since Semler adopted its Bitcoin treasury strategy. For the year 2024, the firm has seen a yield of 22%, signaling continued strong performance.

The healthcare firm acquired its 3,192 Bitcoin at an average price of $87,854 per coin, totaling $280 million in investment. At today’s prices, Semler’s holdings have appreciated to around $313 million, reflecting the potential of its Bitcoin strategy.

Funding the Bitcoin Strategy

Semler funded its Bitcoin purchases using a combination of a senior convertible notes offering and monetizing part of its minority investment in Monarch Medical Technologies. On January 23, Semler announced plans to raise $75 million through the private offering of convertible senior notes, with the proceeds aimed at further bolstering its Bitcoin holdings.

“We are thrilled with the progress we are making in growing our Bitcoin stockpile,” said Semler Scientific Chairman Eric Semler. He added that the firm was "pleased to have monetized a part of our investment in Monarch Medical in order to buy more Bitcoin."

Bitcoin Strategy Continues to Gain Momentum

Semler's commitment to Bitcoin remains strong, with CEO Doug Murphy-Chutorian reiterating the company's laser focus on acquiring and holding the cryptocurrency. As of now, Semler is positioning itself as one of the most notable corporate Bitcoin investors, joining other high-profile holders like MicroStrategy, Tesla, and Block (formerly Square).

In contrast, MicroStrategy, the largest corporate holder of Bitcoin, recently paused its Bitcoin purchases after reaching a massive 471,107 BTC, valued at around $46 billion. Semler’s move to continue acquiring Bitcoin demonstrates the firm’s confidence in the cryptocurrency's long-term potential.

Conclusion

Semler Scientific’s Bitcoin strategy has rapidly escalated, placing it among the top corporate Bitcoin holders. The firm’s ongoing success in expanding its digital asset portfolio highlights a growing trend of companies diversifying their balance sheets by holding Bitcoin as a store of value. As the healthcare tech firm continues to increase its stake in cryptocurrency, it positions itself as a key player in the intersection of traditional industries and the emerging digital asset space.