‘Mini MicroStrategy’ Semler Scientific Announces $17 Million Bitcoin Purchase
Semler Scientific (SMLR) – the healthcare technology firm turned Bitcoin believer – has announced its acquisition of another 247 BTC for its corporate balance sheet.
Per a company press release late Thursday, the new coins were acquired for $17 million including all fees and expenses, averaging $68,825 per coin. As of Friday, Bitcoin trades for $71,200 per coin.
The recent purchase brings the Bitcoin on Semler’s balance sheet up to 828 BTC, acquired for $57 million in aggregate. Thus far, the company is up a modest $1 million on its investment.
“Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,” said Doug Murphy-Chutorian, CEO of Semler Scientific, in a statement.
Semler Scientific $SMLR is showing commitment to its #Bitcoin strategy, taking a page right out of the $MSTR playbook.
Today, the company filed an S-1 disclosing the issuance of up to $150 million of debt securities and common stock to purchase more #Bitcoin.
Semler also… pic.twitter.com/JLxkPoO08e
— Mark Harvey (@thepowerfulHRV) June 7, 2024
Semler announced last month that it was turning to Bitcoin as its “primary treasury reserve asset,” being the second publicly traded US company to vocally follow in the footsteps of MicroStategy (MSTR).
Mimicking the behavior of its larger predecessor, SMLR stock surged 33% the day it announced its first purchase, and spiked another 9% on Friday following the announcement.
Semler’s market cap is now $223 million – almost four times the value of the BTC on its balance sheet.
However, a Thursday SEC filing from Semler revealed that the company plans to execute a $150 million debt securities sale, from which the proceeds will be used for “general corporate purposes,
