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On Thursday, Semler Scientific, a company specializing in healthcare technology, announced that it had acquired 303 Bitcoin for $29.3 million, with an average purchase price of $96,779 between November 25 and December 4.
This acquisition contributes to the company’s expanding Bitcoin treasury, aligning with a trend observed among other notable firms like MicroStrategy, which have also augmented their Bitcoin reserves.
Semler Scientific Holds 1,873 BTC Amid Continues
The official announcement indicated that Semler Scientific’s corporate Bitcoin treasury now comprises a total of 1,873 BTC.
The company obtained these Bitcoins for around $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 increasing its Bitcoin assets, Semler Scientific also revealed that it has raised additional funds through its At-the-Market (ATM) offering, a strategy that allows a company to sell its shares directly into the open market, typically via a broker, at current market prices.
The company issued shares worth $50 million, raising the total from this offering to $100 million.
So far, Semler has generated $79.8 million from these share sales, which has been crucial in supporting its ongoing Bitcoin treasury strategy.
Semler initially announced its plan to adopt Bitcoin as its primary treasury reserve asset in May, when it purchased 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
(@JoeConsorti) May 28, 2024At that time, Eric Semler, Chairman of Semler Scientific, highlighted Bitcoin’s potential for significant returns as it gained wider acceptance as digital gold.
The company’s recent Bitcoin acquisitions have significantly enhanced its BTC yield, which now stands at 78.7%, an increase from the previous 54.7%.
Eric Semler expressed contentment with this advancement, reaffirming the company’s dedication to its expanding Bitcoin strategy.
He also mentioned that the company is pursuing approval for options trading in its stock, believing it now meets the necessary eligibility criteria.
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This initiative to build a larger Bitcoin treasury has influenced the company’s stock performance.
Over the last three months, Semler’s stock price has increased by over 149%, with shares reaching approximately $59 during mid-New York trading on Thursday.
Semler’s recent actions coincide with Bitcoin continuing to attract the interest of major corporations.
For instance, MicroStrategy 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 acquisitions position it as 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, reinforcing its role in the expanding trend of corporate Bitcoin treasury.
Impact on the Bitcoin Ecosystem Amidst BTC’s Recent ATH of $103K
Semler Scientific’s actions occur against the backdrop of Bitcoin’s recent rise to an all-time high of $103,915.
Institutional players, such as BlackRock’s iShares Bitcoin Trust (IBIT), have been instrumental in propelling this price surge, with open interest (OI) in Bitcoin exceeding $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
Blackrock Buys 7750 #Bitcoin As Bitcoin holders celebrate this new all-time high, the milestone has also garnered the attention of political figures.
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 shared a congratulatory message on Truth Social, praising Bitcoin holders for their resilience and reaffirming his commitment to working with the crypto sector.
The post Semler Scientific Purchases Additional $30 Million in Bitcoin to Expand its BTC Holdings appeared first on Cryptonews.
