Medical device company Semler Scientific purchased $50 million worth of Bitcoin between May 13 and May 22, bringing its total Bitcoin holdings to a market value of $474.4 million, placing it among the top 13 Bitcoin holding companies.
According to an announcement on May 23, Semler purchased a total of 455 Bitcoins at an average purchase price of $109,801. Semler used the proceeds from its stock sale program to buy these Bitcoins. Currently, the company has sold approximately 3 million shares of common stock, resulting in a net gain of $115 million.
On the day of the announcement, Semler's stock fell 1.36%, but its stock price decline was roughly in line with the Nasdaq's performance, which dropped 1% that day.
In the Q1 2025 financial report released on May 13, the company disclosed a 44% year-on-year decline in its revenue. Despite claims of success in the Bitcoin holding strategy, Semler's stock still fell 18% in 2025.
Traditionally, companies that sell stocks or issue debt to buy Bitcoin attract investors hoping to profit from Bitcoin price fluctuations. Michael Saylor's company first announced its Bitcoin reserves in August 2020. Bitcoin has risen 181.6% year-to-date, while Semler's stock has risen 53% since it announced its Bitcoin strategy in May 2024.
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