Semler Scientific now holds 1,570 BTC, worth $117.8 million, after acquiring 297 BTC for $29.1 million.
Semler Scientific, a technology business that focuses on healthcare, recently made an announcement regarding its Bitcoin holdings. The announcement revealed that the company had acquired an extra 297 BTC that occurred between November 18 and November 22, 2024.
The corporation incurred a total cost of $29.1 million for these acquisitions, with an average price of $97,995 per Bitcoin, accounting for any associated fees. Recently, Semler Scientific announced an increase in its Bitcoin reserves to a total of 1,570 BTC.
$29.1M Bitcoin Buy Pushes Semler Scientific’s Holdings Past 1,500 BTC
The corporation has purchased a total of $117.8 million worth of Bitcoins, equivalent to an average price of $75,039 per Bitcoin. The corporation purchased 297 Bitcoins for a total of $29.1 million between November 18 and November 22, 2024. The corporation paid an average price of $97,995 for each Bitcoin.
Semler Scientific remains committed to its Bitcoin strategy, which aims to strengthen its balance sheet, despite the increased interest in digital assets as an alternative reserve. This most recent addition underlines the company’s dedication to this plan.
This is not the first buy that the healthcare technology startup has made this month; earlier in November, it expanded its Bitcoin holdings to 1,058 BTC by investing $3 million at an average price of $67,500 per BTC. This most recent acquisition is not unique to this month.
ATM Offering Secures $50M to Fund Bitcoin Strategy
Moreover, the company was able to raise an additional fifty million dollars through its at-the-market (ATM) offering, bringing the total amount of money raised to one hundred million dollars in accordance with its Controlled Equity Offering agreement.
The company applies the increased capital to operational requirements and future Bitcoin acquisitions, strengthening its approach to treasury management. Semler Scientific’s goal of supporting its Bitcoin investments through equity sales aligns with the availability of the ATM offering.
Because of this particular financial mechanism, the corporation has been able to expand the amount of cryptocurrencies it holds since it implemented the approach. The company’s BTC yield, a key performance metric, highlights the efficiency of Semler Scientific’s Bitcoin treasury strategy. Since its debut in July 2024, the strategy has achieved a yield of 58.4%.
Through the use of this indicator, the corporation demonstrates that it is capable of generating considerable returns on its Bitcoin investments. But MicroStrategy has been one of the most active public firms in accumulating Bitcoin.
MicroStrategy announced not too long ago that it has acquired an additional 55,500 Bitcoins for a total price of $5.4 billion, which is equivalent to an average cost of $97,862 per coin. It is possible to understand the Bitcoin approach that Semler Scientific has adopted by referring to the growing trend of public corporations all over the world to include digital assets in their portfolios.
Because of the attention that it has received, Bitcoin continues to establish itself as an asset that is relevant for corporate treasuries. While everything is going on, the price of Bitcoin has continued its bullish climb, and it is currently trading at $94,837.24 with a gain of 5.27% over the past seven days.
The reason for this is that investors, known as Bitcoin whales, are taking advantage of the market’s dip. There has been a 42% increase in the 24-hour trading volume, which has reached $69.13 billion, and the market valuation is currently at $1.88 trillion.
