Semler Scientific Buys Additional 455 BTC, Now Holds Over $474M in Bitcoin

Semler Scientific (Nasdaq: SMLR) has expanded its Bitcoin holdings once again, acquiring 455 BTC between May 13 and May 22 for $50 million

Semler Scientific (Nasdaq:SMLR) has expanded its Bitcoin holdings once again, acquiring 455 BTC for $50 million between May 13 and May 22, according to a recent 8-K filing with the U.S. Securities and Exchange Commission.

The purchase was funded through the company’s $500 million at-the-market offering program, which began in March to provide the company with additional capital for strategic initiatives.

As of May 22, Semler’s total Bitcoin holdings stood at 4,264 BTC, acquired at an average purchase price of $91,471 per BTC, reflecting a total cost basis of $390 million. At current market prices, the company’s Bitcoin holdings had a fair market value of $474.4 million.

Semler’s average purchase price for the most recent 455 BTC came in at $109,801 per coin, highlighting the company’s confidence in Bitcoin’s long-term value despite short-term volatility.

Moreover, Semler reported a year-to-date BTC yield of 25.8%, which it uses as a performance metric to assess the effectiveness of its Bitcoin acquisition strategy.

This yield is calculated by dividing the BTC realized gains for the period by the company’s average realized investment in Bitcoin.

Semler is following in the footsteps of oStrategy, the firm that coined the term “treasury reserves” in the context of public companies holding Bitcoin and defined BTC Yield as a way to track crypto-driven portfolio performance.

In 2023, several institutions have been making significant moves in the crypto sector.

Earlier this month, Cetus Protocol, a new DeFi protocol on the Sui blockchain, was hacked for about 2,000 ETH and 100,000 SUI, which is around $260 million at current prices.

Binance later announced that it would be providing liquidity for the protocol’s recovery.

This milestone further cements Semler’s position as one of the most Bitcoin-exposed public companies, particularly in the healthcare technology sector.

While many institutional players remain cautious about the rapid integration of digital assets, Semler is betting that Bitcoin will offer long-term upside as a treasury reserve asset and hedge against inflation.

Additionally, Semler’s strategy is closely watched by investors and analysts seeking to understand the evolving role of digital assets on public company balance sheets as corporate adoption continues to grow.