Semler Scientific, a healthcare technology company, has made headlines with its recent announcement of purchasing $17 million worth of Bitcoin for its corporate balance sheet. This acquisition adds 247 BTC to Semler’s portfolio, bringing the total to 828 BTC acquired for $57 million. Despite the modest $1 million increase in value so far, CEO Doug Murphy-Chutorian remains committed to expanding the healthcare business and holding Bitcoin as part of the company’s strategy.
Following in the footsteps of MicroStrategy, Semler has embraced Bitcoin as its primary treasury reserve asset. This decision has proven to be lucrative for the company, as evidenced by the 33% surge in SMLR stock after the initial purchase announcement. The market cap of Semler now stands at $223 million, nearly four times the value of the BTC on its balance sheet.
In a move reminiscent of MicroStrategy, Semler has disclosed plans for a $150 million debt securities sale, with the proceeds earmarked for general corporate purposes, including further Bitcoin acquisitions. The company’s commitment to Bitcoin as an investment and store of value remains unwavering, with chairman Eric Semler emphasizing the potential for significant returns as Bitcoin gains acceptance as digital gold.
Semler’s foray into Bitcoin comes at a time when other companies, like Japanese firm Metaplanet, are also ramping up their BTC acquisitions. The trend of purchasing Bitcoin with cash or through capital markets is gaining traction among companies looking to enhance shareholder value and bolster their Bitcoin holdings. As Semler continues to navigate the evolving landscape of digital assets, its strategic approach to Bitcoin investments is sure to attract further attention and interest from investors.
