Semler Scientific's Bitcoin Bet Pays Off: $88M Investment Grows to $313M

Healthcare tech firm Semler Scientific has made a significant move in the cryptocurrency market, acquiring 871 Bitcoin (BTC) over the past few weeks. The purchase, valued at over $88 million, has resulted in a paper gain of more than 150% for the company.

Semler Scientific, in a Feb. 4 press release, revealed that it had bought the BTC between Jan. 11 and Feb. 3, at an average purchase price of $101,616 per coin. The company's aggregate yield from July 1, the first full quarter after adopting its Bitcoin treasury strategy, to Feb. 3 was 152%. So far this year, the yield has been 22%.

As of Feb. 3, Semler held a total of 3,192 BTC, acquired for an aggregate of $280 million at an average purchase price of $87,854 per coin. The investment is currently worth around $313 million at market prices. Semler funded its crypto investment through a senior convertible notes offering and the monetization of a portion of its minority investment in Monarch Medical Technologies.

On Jan. 23, Semler announced plans to raise $75 million through the private offering of convertible senior notes to support its Bitcoin strategy. Eric Semler, chairman of Semler Scientific, expressed his satisfaction with the progress made in growing the company's Bitcoin stockpile and the monetization of its investment in Monarch Medical Technologies to purchase more BTC.

The latest figures from Semler Scientific make it the 10th-largest corporate holder of BTC, according to Bitcoin Treasuries. In November, the company's CEO, Doug Murphy-Chutorian, stated that the firm remained "laser-focused" on acquiring and holding Bitcoin. Meanwhile, on Feb. 3, MicroStrategy, the world's largest corporate holder of BTC, announced that it would halt its purchases and hold its current stash, currently worth around $46 billion.