Semler Scientific Now Holds 1,570 BTC Following Latest Purchase

Publicly traded medical technology company Semler Scientific has increased its Bitcoin (BTC) holdings, bringing its total to 1,570 BTC as part of its ongoing treasury strategy. In a press release, the company disclosed that it acquired 297 BTC for $29.1 million between November 18 and November 22, at an average price of $97,995 per Bitcoin.

Semler Now Hold 1,570 BTC

Earlier this year, Semler adopted a Bitcoin treasury strategy. To measure the strategy’s success, Semler tracks a metric called BTC Yield, which calculates the change in Bitcoin holdings relative to its outstanding diluted shares.

From July 1, the quarter following the implementation of the strategy, to November 22, the company saw a 58.4% return on its Bitcoin holdings. Notably, the yield between October 1 and November 22 was 37.1%.

With its latest purchase, Semler’s total Bitcoin holdings now stand at 1,570 BTC, acquired at a cost of $117.8 million, with an average price of $75,039.

Commenting on the development, Semler’s chairman, Eric Semler, highlighted the company’s strong return on Bitcoin and reiterated its ongoing commitment to expanding its holdings

“We are thrilled to report a 58.4% BTC Yield and the outstanding progress we are making to accumulate bitcoin on our balance sheet,” Semler stated.

In addition to Bitcoin acquisitions, Semler also upgraded its capital markets strategy. The company increased the size of its at-the-market (ATM) equity offering to $100 million, having already raised $50 million in gross proceeds by November 22.

Surge in BTC Purchases

Semler’s recent moves reflect a strategy similar to that of MicroStrategy, which also focuses on accumulating Bitcoin. In a similar move, MicroStrategy purchased 55,500 BTC for $5.4 billion, with an average price of $97,862 per coin.

The surge in BTC purchases suggests that institutional investors, alongside individual traders and whales, are confident in Bitcoin’s potential and see it as an opportune time to buy.

Bitcoin hovers around $96,550 at press time.