Semler Scientific (SMLR) shares soared 14% on Friday despite a broader market downturn, fueled by late-Thursday announcements of a new hire and bold bitcoin acquisition targets. The healthcare equipment company, which adopted bitcoin as its primary treasury reserve asset in 2024, named Joe Burnett as its first director of Bitcoin $BTC
strategy and outlined plans to significantly expand its bitcoin holdings.
Semler aims to own at least 10,000 bitcoins by the end of 2025, 42,000 by year-end 2026, and 105,000 by year-end 2027. The company currently holds 4,449 bitcoins, valued at approximately $462 million.
“We are thrilled to welcome Joe to our Bitcoin strategy team,” said Chairman Eric Semler in a press release. “His analytical expertise and thought leadership on Bitcoin will be critical in executing our three-year plan to acquire 105,000 bitcoins and deliver long-term value to our shareholders.”
Burnett, previously director of market research at Unchained, a Bitcoin-focused financial services firm, has been a vocal advocate for Bitcoin as a superior monetary technology for over seven years.
Despite Friday’s rally, Semler’s stock has faced a challenging year, down 33% year-to-date and over 50% from its 2025 peak above $80. The decline has reduced the company’s market capitalization to roughly the value of its bitcoin holdings, limiting its ability to raise capital for additional purchases through common share sales. The hiring of Burnett and the company’s aggressive acquisition targets suggest Semler may explore creative financing options, potentially following strategies like those of MicroStrategy’s Michael Saylor, such as issuing preferred shares.
The market’s enthusiasm comes as bitcoin dipped below $104,000, with most BTC-related stocks trading lower on Friday.