Semler Scientific Adds Another $10 Million in Bitcoin (BTC)

Semler Scientific has purchased approximately $10 million in Bitcoin (BTC) since Feb. 14, the medical technology company said in an April 25 statement.

According to the April 25 statement released by Semler Scientific, the medical technology company purchased 111 Bitcoins at an average price of $90,000 per coin, with a total value of $10 million. The company currently holds more than 3,300 Bitcoins in total, with a total value of approximately $300 million.

Semler said its Bitcoin investment has provided shareholders with a 23.5% Bitcoin return so far this year. Bitcoin return measures the ratio of BTC holdings to outstanding shares, reflecting the growth of each investor's exposure to Bitcoin.

"Semler Scientific uses BTC return as a key performance indicator (KPI) to evaluate the performance of its strategy of purchasing Bitcoin in a manner that the company believes will increase shareholder equity," the company said.

The company said that the average purchase price of its Bitcoin reserves was close to $89,000. As of April 25, Bitcoin was trading at approximately $95,000 per coin.

Semler Scientific is a medical technology company focused on developing and selling medical diagnostic products, mainly focusing on chronic disease detection. The company said that part of its Bitcoin purchases were funded by a new share offering of approximately $125 million. Semler also announced plans in January to raise $75 million through a private placement of convertible senior notes.

Corporate Bitcoin Buying Wave

According to FinanceCharts, the surge in Bitcoin prices has pushed Michael Saylor's Strategy, formerly MicroStrategy, up more than 350% in 2024. Strategy's success has inspired dozens of companies, including Semler, to start accumulating Bitcoin reserves.

Public companies are now among the largest institutional Bitcoin holders. According to BitcoinTreasuries.NET, as of April 25, corporate Bitcoin holdings were worth a total of approximately $71 billion.

Strategy remains the largest corporate Bitcoin holder, with reserves worth more than $50 billion. In the week of April 14, Strategy purchased 6,556 Bitcoins at an average price of $84,785 per coin.

Among institutional buyers, corporate reserves still lag behind exchange-traded funds (ETFs), which cumulatively held about $110 billion in Bitcoin as of April 25, according to Coinglass data.