Semler Scientific Plans 105,000 Bitcoin Holdings by 2027

Semler Scientific Inc., a healthcare technology firm, has announced an ambitious plan to significantly increase its Bitcoin holdings. The company aims to hold 105,000 Bitcoin by 2027, which would represent approximately 0.5% of Bitcoin’s fixed supply of 21 million. Currently, Semler holds 3,808 BTC, and the plan is to reach 10,000 BTC by the end of 2025, 42,000 BTC by the end of 2026, and ultimately achieve the target of 105,000 BTC by 2027. This expansion will be funded through a combination of equity offerings, debt financing, and operational cash flow.

To lead this initiative, Semler has appointed Joe Burnett, a Bitcoin researcher, as its new director of Bitcoin strategy. Burnett brings a wealth of experience from his previous roles at Unchained and Blockware Solutions, as well as a background at Big Four firm EY. He highlighted that the trend of public companies adopting Bitcoin as a treasury asset is gaining momentum. Semler’s commitment to Bitcoin began in 2024, and the company has already earned the 13th spot among public companies with the largest Bitcoin holdings. This move mirrors the growing trend of businesses prioritizing Bitcoin accumulation, sometimes even ahead of their core operations. For instance, Japanese investment firm Metaplanet also announced its goal to acquire 210,000 BTC by the end of 2027.

However, this aggressive strategy is not without its critics. VanEck researcher Matthew Sigel recently warned that firms heavily dependent on Bitcoin purchases and at-the-market equity programs could face challenges if their stock prices fall too close to their net asset values. In such scenarios, issuing more shares could result in shareholder dilution rather than value creation. Sigel specifically pointed to Semler, as its stock declined almost 41% year-to-date and is approaching pre-Bitcoin purchase levels. Despite this, Semler’s Bitcoin bet has so far been profitable. On June 3, the company reported an unrealized gain of $177 million on its Bitcoin holdings, which is a 287% yield. Among public firms holding Bitcoin, Semler boasts the fourth-highest Bitcoin-per-share ratio at 0.00034.