Semler Scientific beefs up its Bitcoin reserve, bringing it to 3,192

Semler Scientific, a publicly traded healthcare technology provider, has increased its Bitcoin holdings by 871 BTC in less than a month. Its total holdings amount to 3,192 BTC.

Semler began buying Bitcoin as a reserve asset in the second quarter of 2024 and enjoyed a surge in share value after it initiated its Bitcoin strategy. “We are thrilled with the progress we are making in growing our bitcoin stockpile,” Semler Scientific chairman Eric Semler said in a statement on  Feb. 4.

Semler sold Monarch Medial shares, issued notes to finance Bitcoin acquisition

The healthcare firm sold off part of its minority share in Monarch Medical Technologies to finance its latest Bitcoin acquisition. Per reports, the company invested $5 million in Monarch Medical in December 2022 through the purchase of a senior secured convertible promissory note.

Semler also issued $75 million of senior notes in January in a private offering. That issue was oversubscribed and brought the company around $81.4 million. The notes will come due in 2030.

According to the statement, Semler paid an average of $101,616 per BTC for its latest acquisition, raising the aggregate price it has paid for BTC from $82,689 to $87,854. Since July, Semler has attained a yield of 152.2% on its Bitcoin holdings.

Semler is a pioneer in its use of Bitcoin as a reserve asset

Since its initial acquisition of 877 BTC, Semler has been adding to its reserve steadily. Between Dec. 16 and Jan. 10, Semler acquired 237 BTC at an average price of $98,267. Its BTC yield this year has reached 21.9%, as of Feb. 3.

Many companies in the cryptocurrency sector hold Bitcoin in their reserves, but Semler is a rarity as a BTC holder with no industry connections. MicroStrategy, which provides business services, is another example.

MicroStrategy began buying Bitcoin in 2020 and, according to a filing with the U.S. Securities and Exchange Commission on Feb. 3, now holds 471,107 BTC. It paid an average of $64,511 per BTC, around $30.4 billion in all. Those holdings are currently worth around $47 billion.

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