In a significant strategic move last week, Semler Scientific (SMLR) increased its holdings in bitcoin (BTC), acquiring 167 BTC for a total of $16.2 million. This purchase, made at an average price of approximately $97,000 per bitcoin, marks another chapter in the company’s foray into the cryptocurrency market, as detailed in a recent SEC filing.
The funding for this acquisition appears to predominantly stem from the sales of common stock, with Semler disclosing that it sold 1.166 million shares for a total of $39.8 million under its April 15 at-the-market offering. This is not the first time Semler has turned to bitcoin investments, as the company had previously made significant purchases on April 25 and April 30, demonstrating a consistent strategy in diversifying its investment portfolio.
With the recent acquisitions, Semler Scientific now holds a total of 3,634 bitcoin, acquired for a cumulative investment of $322.3 million, reflecting an average purchase price of $88,668 each. Given bitcoin’s current market price, hovering around $94,000, the company’s bitcoin holdings are now valued at over $340 million. This substantial valuation further underscores the growing appeal of cryptocurrency as a viable asset class within corporate investment strategies.
As more companies look to digital currencies to enhance their financial portfolios, Semler Scientific’s latest move not only positions it strategically in the cryptocurrency market but also highlights the potential for significant returns amid the evolving landscape of finance.
