Key Points
- Semler Scientific Inc. has increased its Bitcoin holdings to 2,321 BTC.
- The company used a combination of an “at-the-market” (ATM) offering and operational cash flow to fund the acquisitions.
Semler Scientific Inc. has recently shared details about its recent Bitcoin acquisitions, capital markets activities, and the performance of its BTC Yield, a key metric of its investment strategy.
The company disclosed that it now owns 2,321 BTC, purchased for a total of $191.9 million, with an average price of $82,687 per Bitcoin, including fees and expenses. Between December 16, 2024, and January 10, 2025, it bought 237 Bitcoins using $23.3 million. The purchase was funded through a mix of an “at the market” (ATM) offering and operational cash flow. The average price paid per bitcoin during this period was $98,267.
Fundraising and Bitcoin Acquisition
Semler Scientific collaborated with Cantor Fitzgerald & Co. to raise funds by periodically selling its common stock through an ATM offering. In December 2024, they increased the potential fundraising amount to $150 million. As of January 10, 2025, the company had raised approximately $121.8 million in gross proceeds from these stock sales.
The firm revealed its BTC accumulation success rate, stating that between October 1, 2024, and January 10, 2025, its BTC yield was 72.6%, while from July 1, 2024, to January 10, 2025, it was 99.3%. Semler Scientific uses BTC Yield as a key measure to track the success of its strategy of acquiring Bitcoin in a way that benefits its stockholders. The company believes this metric helps investors understand its decision to raise money by selling additional shares to fund Bitcoin purchases.
Bitcoin as a Hedge Against Inflation
The company, a provider of services to healthcare providers, adopted Bitcoin as its primary treasury reserve asset in May 2024. Chairman Eric Semler stated at the time that the company’s purchase of Bitcoin demonstrated its strong belief in the digital asset as a reliable store of value. He added that they believe Bitcoin’s limited supply makes it a good hedge against inflation and a safe option during global instability.
Semler Scientific disclosed that it had thoroughly examined potential uses of cash. After careful consideration and evaluation of various alternatives, the company concluded that accumulating Bitcoin would be a better option than holding excess cash.
Semler Scientific’s recent accumulation of Bitcoin is part of the growing embrace of digital assets by leading institutions. For example, MicroStrategy recently announced that it had acquired 2,530 BTC and now holds 450,000 BTC. The shift to BTC as a strategic reserve by leading institutions could encourage more companies and countries to turn to digital assets, which could lead to a clearer and more favorable regulatory framework for virtual currencies.
