Semler Scientific, a healthcare technology company that has recently embraced Bitcoin, made headlines with its latest announcement of purchasing an additional 247 BTC for its corporate balance sheet, totaling $17 million including fees. This brings their total Bitcoin holdings to 828 BTC, acquired for $57 million in total. Despite a modest $1 million gain on their investment so far, CEO Doug Murphy-Chutorian remains committed to the company’s dual strategy of expanding their healthcare business and accumulating Bitcoin.
Following in the footsteps of MicroStrategy, Semler made Bitcoin its primary treasury reserve asset, leading to a surge in their stock value by 33% on the day of the initial purchase announcement, with another 9% increase following the recent acquisition. With a market cap of $223 million, Semler’s Bitcoin holdings are now valued at almost four times their market cap.
In a move similar to MicroStrategy, Semler plans to issue $150 million in debt securities, with the proceeds earmarked for general corporate purposes and further Bitcoin acquisitions. The company sees Bitcoin as a compelling investment and a reliable store of value, with CEO emphasizing their commitment to purchasing Bitcoin with cash.
Chairman Eric Semler believes in Bitcoin’s potential to generate significant returns, touting its digital and architectural resilience over traditional assets like gold. With the market cap of gold still ten times that of Bitcoin, Semler is not alone in its Bitcoin acquisition strategy, as other companies like Metaplanet in Japan have also seen success in acquiring BTC.
In addition to purchasing Bitcoin with cash, Semler is open to exploring capital markets to enhance shareholder value and increase their Bitcoin holdings. As the trend of companies investing in Bitcoin continues to grow, Semler Scientific stands out as a prominent player in the evolving landscape of digital asset investments.
