Semler Boosts Bitcoin Holdings to $168.6 Million Amid Growing Corporate Crypto Trend
December 16, 2024The company's BTC Yield, a key performance indicator for evaluating its Bitcoin acquisition strategy, was reported at 67.0% from October 1 to December 15, 2024, down from 92.8% for the previous quarter.
On December 16, 2024, Semler expanded its At-the-Market (ATM) offering by $50 million, raising the total potential to $150 million after securing $100 million in gross proceeds by December 13.
Semler's BTC Yield metric reflects changes in Bitcoin holdings relative to diluted shares outstanding, aiming to enhance shareholder value.
The company's strategic moves indicate a commitment to integrating cryptocurrency into its financial framework, aligning it with a broader trend of corporate acceptance of Bitcoin as a strategic asset.
Semler's investment strategy is reminiscent of MicroStrategy, which has made significant investments in Bitcoin, recently acquiring 15,350 BTC for around $1.5 billion.
As of December 16, 2024, Bitcoin is trading near $103,756, having increased by over 1.15% in the past 24 hours, indicating heightened market activity.
Semler Scientific has bolstered its Bitcoin holdings to 2,084 BTC, valued at approximately $168.6 million, following a recent acquisition of 211 BTC at an average price of $101,890 each.
The growing trend of companies investing in Bitcoin reflects a perception of the cryptocurrency as a hedge against economic instability and inflation.
This latest purchase marks Semler's third acquisition of Bitcoin in just two months, following earlier purchases on November 25 and December 5, 2024.
The company is financing its Bitcoin acquisitions through revenues generated from its ATM stock offering, which has been recently expanded.
Management's forward-looking statements highlight the risks associated with Bitcoin investments and market conditions, emphasizing the need for cautious interpretation of BTC Yield.
Semler warns that BTC Yield should be used with caution and is not a substitute for detailed financial analysis found in SEC filings.
Summary based on 7 sources
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Sources
Cision PR Newswire • Dec 16, 2024
Semler Scientific® Announces Updated BTC and ATM Activity; Purchased Additional 211 BTC; Now Holds 2,084 BTC; BTC Yield of 92.8%CoinGape • Dec 16, 2024
Just In: Semler Scientific Acquires More Bitcoin For $21.5 MillionCrypto News Flash • Dec 17, 2024
Semler Scientific Expands Bitcoin Holdings to 2,084 BTCBTC Times • Dec 16, 2024
Semler Scientific Purchases Another 211 Bitcoin Increasing Holdings Beyond 2,000 Bitcoin