Bitcoin News Today: Semler Scientific Expands Bitcoin Holdings by 210 BTC for $25 Million

Semler Scientific, a Nasdaq-listed healthcare technology firm, has expanded its Bitcoin holdings by acquiring an additional 210 BTC for approximately $25 million. This purchase, made between July 3 and July 16, brings the company's total Bitcoin holdings to 4,846 BTC, valued at over $570 million. The average price per Bitcoin for this acquisition was $118,974, with the total stack acquired for $455 million at an average price of $93,890 per Bitcoin.

Semler Scientific's latest Bitcoin purchases were funded through the issuance and sale of its common stock. In April, the company entered into an agreement with several financial institutions to sell up to $500 million of its common stock through an at-the-market (ATM) program. As of July 16, Semler had sold 4,466,449 shares under this agreement, generating roughly $175 million in net proceeds.

With this latest acquisition, Semler Scientific has surpassed GameStop in the corporate Bitcoin accumulation race, now holding the 14th largest stash of Bitcoin among publicly-traded companies. The company first began purchasing Bitcoin last year with a $40 million transaction to acquire 581 BTC and has continued to accumulate the crypto asset, following the strategy of software company Strategy, the world’s largest corporate holder of Bitcoin.

Semler Scientific uses a key performance metric known as BTC Yield to assess the effectiveness of its Bitcoin acquisition strategy in driving shareholder value. BTC Yield represents the percentage change period-to-period of the ratio between Semler’s Bitcoin cache and its assumed shares outstanding. The company has achieved a year-to-date BTC Yield of 30.3%.

This strategic move by Semler Scientific reflects a growing trend among corporations to diversify their treasury reserves with digital assets. By adding to its Bitcoin holdings, the company demonstrates a commitment to embracing innovative financial technologies and potentially hedging against inflationary pressures. The custodianship of the company's Bitcoin holdings will be managed by Gemini, a prominent cryptocurrency exchange and custodian service.

Semler Scientific's proactive approach to integrating Bitcoin into its financial strategy underscores its confidence in the long-term value and stability of Bitcoin as an investment. As more companies recognize the potential of digital currencies, the landscape of corporate treasury management is likely to evolve, with Bitcoin playing an increasingly significant role. This acquisition not only expands Semler Scientific's Bitcoin treasury but also positions the company as a leader in the adoption of digital assets within the corporate world.