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California-Based Healthcare Company Announces It Bought Millions of Dollars Worth of Bitcoin! Here Are the Details

California-Based Healthcare Company Announces It Bought Millions of Dollars Worth of Bitcoin! Here Are the Details


BitcoinSistemi
2024-12-06 12:27:12
California-Based Healthcare Company Announces It Bought Millions of Dollars Worth of Bitcoin! Here Are the Details

California-based healthcare company Semler Scientific has significantly increased its Bitcoin holdings by purchasing an additional 303 BTC for $29.3 million between November 25 and December 4. Semler Scientific Raises Bitcoin Treasury Above $180 Million With New Acquisition This latest purchase brings the Nasdaq-listed firm’s total Bitcoin treasury to 1,873 BTC, worth around $184 million at current market prices. New Purchase: The company purchased 303 BTC at an average price of $96,779 per Bitcoin, including fees and expenses. Cumulative Investment: Across all purchases, Semler Scientific invested $147.1 million in bitcoin holdings at an average price of $78,553 per bitcoin. Bitcoin Strategy and Performance Eric Semler, Chairman of Semler’s Board of Directors, highlighted the success of the firm’s Bitcoin strategy, reporting a 78.7% BTC return since the approach was adopted in the third quarter. “Our BTC return demonstrates the strong performance of our Bitcoin strategy, which continues to drive value for shareholders,” said Eric Semler. The firm uses BTC returns as a key performance indicator (KPI) to assess the effectiveness of its Bitcoin investment. It also noted that the strategy involves financing Bitcoin purchases by issuing additional common stock. Semler Scientific currently ranks as the 14th largest institutional Bitcoin holder behind major players like MicroStrategy and Marathon Digital. Despite positive news about its growing Bitcoin treasury, Semler Scientific shares closed down 7.65% at $58.55 on Thursday. However, the stock gained 1.3% in after-hours trading. The company’s shares have gained 32.5% since the beginning of the year and are up 46% in the past month. Semler Scientific’s growing Bitcoin holdings signal growing confidence in Bitcoin’s long-term value, reflecting the broader trend toward institutional adoption of the cryptocurrency as a treasury strategy. *This is not investment advice. Continue Reading: California-Based Healthcare Company Announces It Bought Millions of Dollars Worth of Bitcoin! Here Are the Details

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