Semler Scientific Expands Bitcoin Holdings to 2,321 BTC Amid Growing Crypto Adoption
Semler Scientific, Inc., a leading medical device manufacturer, has doubled down on its Bitcoin strategy, acquiring an additional 237 BTC between Dec. 16 and Jan. 10. The purchases, made at an average price of $98,267 per token, bring the company’s total holdings to 2,321 Bitcoin (BTC), according to a recent company release.
A $191.9 Million Bet on Bitcoin
Semler’s total Bitcoin investment now stands at $191.9 million, with an average acquisition price of $82,687 per BTC. The latest purchases were funded through proceeds from an at-the-market (ATM) offering and the company’s operating cash flow.
This move reaffirms Semler Scientific’s “laser focus” on building its Bitcoin reserves, a strategy the company has aggressively pursued since surpassing 1,050 BTC in holdings last year.
Strategic Commitment to Bitcoin
“We will continue to pursue our strategy of purchasing Bitcoins with cash,” said Doug Murphy-Chutorian, CEO of Semler Scientific, in a statement made in June 2024. The company first announced its Bitcoin treasury plans in May 2024, signaling a long-term commitment to incorporating digital assets into its financial strategy.
Semler’s Stock Surges Amid Bitcoin Strategy
The company’s stock, trading under the ticker ‘SMLR’, has soared by over 115% since the announcement of its Bitcoin strategy, according to Google data. This growth reflects growing investor confidence in the company’s innovative approach to treasury management.
In December 2024, Semler expanded its ATM offering by $50 million, bringing the total to $150 million under an agreement with Cantor Fitzgerald. As of Jan. 10, the company has raised $121.8 million in gross proceeds from its ATM sales.
The Bigger Picture: Crypto Adoption in 2024
Semler Scientific’s Bitcoin acquisition comes amid a broader trend of increased corporate and institutional interest in cryptocurrency. Bitcoin ATMs, for example, have seen 6% growth in 2024, signaling renewed interest in the crypto market.
Semler’s aggressive Bitcoin purchases and strategic expansion in its ATM offerings highlight its belief in the long-term value of cryptocurrency as a treasury asset.
Conclusion: A Forward-Thinking Strategy
By raising its Bitcoin holdings to 2,321 BTC, Semler Scientific has positioned itself as one of the leading corporate adopters of cryptocurrency. With its stock price climbing and its treasury strategy gaining traction, the company’s actions reflect a broader shift in how businesses view and utilize digital assets.
As crypto adoption continues to grow, Semler’s bold strategy may serve as a blueprint for other companies looking to integrate Bitcoin into their financial frameworks. Will this move cement Semler as a pioneer in corporate Bitcoin adoption, or is it a risky bet? Time will tell.
