Strive, Inc., the investment firm co-founded by Vivek Ramaswamy, has announced plans to acquire Semler Scientific in an all-stock deal. The agreement highlights the growing role of Bitcoin in corporate balance sheets and sets up Strive as one of the largest public holders of the cryptocurrency. Strive Seals Semler Merger Deal, Buys $675 Million in
The post Breaking: Vivek Ramaswamy’s Strive to Acquire Bitcoin Treasury Firm Semler Scientific appeared first on CoinGape.
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- The Blockchain Group and the Smarter Web Company have increased their exposure to Bitcoin.
- US-based healthcare technology company Semler Scientific also reported a fresh Bitcoin purchase of 187 BTC.
- Earlier in the day, Metaplanet announced adding 2,204 BTC to its treasury.
France-based The Blockchain Group and the United Kingdom’s Smarter Web Company have increased their exposure to Bitcoin, joining a growing number of corporates bolstering digital asset reserves.
In a Monday announcement, The Blockchain Group disclosed the purchase of 116 Bitcoin for approximately €10.7 million ($12.55 million).
Meanwhile, the Smarter Web Company announced it had acquired 226.42 BTC for £17.9 million ($24.34 million).
The acquisitions took place at an average cost of roughly $106,000 and $106,750 per coin, respectively.
Following the purchases, The Blockchain Group’s Bitcoin holdings now stand at 1,904 BTC, while the Smarter Web Company holds around 1,000 BTC.
Alexandre Laizet, deputy CEO of The Blockchain Group, stated in a post on X (formerly Twitter) that the firm’s Bitcoin yield in 2025 had reached 1,348.8%.
The Smarter Web Company reported a year-to-date yield of 26,242%.
Semler Scientific also buys BTC
Also on Monday, US-based healthcare technology company Semler Scientific reported a fresh Bitcoin purchase of 187 BTC for approximately $20 million, according to an 8-K filing with the US Securities and Exchange Commission.
The Nasdaq-listed firm acquired the coins at an average price of $106,906 per bitcoin between June 4 and July 2.
As of July 2, Semler said it had sold 4.1 million shares under the ATM program, raising $156.6 million in net proceeds.
The company’s total Bitcoin holdings now stand at 4,636 BTC, acquired at an average price of $92,753 per coin.
Based on current market prices, Semler is sitting on approximately $72 million in unrealized gains, with total acquisition costs — including fees and expenses — amounting to $430 million.
The corporate rush for Bitcoin
The uptick in corporate Bitcoin purchases reflects a broader trend driven by favorable market conditions, ETF inflows, and rising institutional interest.
Firms such as Strategy — the world’s largest corporate holder of Bitcoin — continue to lead this movement.
Strategy on Monday disclosed that its unrealized gains had reached $14 billion in the second quarter of 2025, surpassing prior expectations of $13 billion.
The company’s latest acquisition, announced on June 30, involved the purchase of 4,980 BTC for $531.1 million.
Separately, Japan’s Metaplanet added 2,204 BTC to its treasury on Monday, spending $237 million.
The company now holds 15,555 BTC at an average price of approximately $99,985 per coin.
The continued accumulation by public companies underscores the growing perception of Bitcoin as a treasury reserve asset.
As market participants await Q3 activity, corporate interest appears to be sustaining momentum amid macroeconomic uncertainty and evolving digital asset regulation.
- Company held 3,182 BTC worth $263.5 million.
- Corporate BTC holdings rose 16.1% to 688,000 BTC.
- Semler plans a $500 million securities offering.
Semler Scientific has reported a $41.8 million unrealised loss on its Bitcoin holdings in the first quarter of 2025, underscoring the risks of crypto exposure among corporates.
The healthcare technology firm disclosed the loss in an April 15 filing with the US Securities and Exchange Commission (SEC), citing a decline in the fair value of its Bitcoin portfolio between 31 December and 31 March.
Bitcoin drops 12% in Q1
Bitcoin’s price declined by 12% during the quarter, falling from $93,500 to $82,350. That drop led to a sharp markdown in Semler’s crypto holdings, which stood at 3,182 BTC, valued at $263.5 million as of March 31.
The situation worsened in early April, with Bitcoin sliding below $75,000—a 32% correction from its all-time high.
Despite this, the company has not altered its crypto strategy. CEO Doug Murphy-Chutorian had earlier noted Semler’s dual focus on healthcare innovation and Bitcoin acquisition, a stance that remains unchanged in light of the recent downturn.
Corporate Bitcoin holdings rise 16%
While Semler faced paper losses, public companies overall expanded their Bitcoin exposure.
Data from Bitwise shows that listed firms added 95,431 BTC in Q1 2025—a 16.1% increase from the previous quarter.
By March-end, these holdings totalled 688,000 BTC, with a combined valuation of $56.7 billion based on the quarter’s closing price of $82,445 per Bitcoin.
According to blockchain tracker Bitbo, Semler is now the twelfth-largest corporate holder of Bitcoin, surpassing companies such as Boyaa Interactive.
The trend highlights sustained institutional demand, even amid market volatility.
Revenue and legal settlement update
Semler’s quarterly revenue was estimated between $8.8 million and $8.9 million, with operating losses projected between $1.3 million and $1.5 million.
The company also reported $10 million in cash and equivalents as of March 31.
Along with this, Semler disclosed a preliminary agreement to settle a civil investigation by the Department of Justice for close to $30 million. The filing did not specify the nature of the probe.
$500M securities offering planned
Semler also filed plans to raise up to $500 million through securities offerings, with part of the proceeds potentially going towards further Bitcoin acquisitions.
The company stated it may offer and sell securities “from time to time… up to an aggregate value of $500,000,000.”
Shares of Semler, listed on Nasdaq under the ticker SMLR, are down 36% so far in 2025.
The company acknowledged recent price swings and warned of continued volatility ahead, although it has not indicated any change to its digital asset strategy.
At the same time, interest in Bitcoin at the policy level continues to build in the US.
Data from Bitcoin Law indicates that 47 Bitcoin-related bills have been introduced across 26 states, with 41 still active.
On April 5, Kentucky became the latest to adopt digital asset protections with the passage of House Bill 701—the “Bitcoin Rights” law—under Governor Andy Beshear.
Semler Scientific has filed with the U.S. Securities and Exchange Commission (SEC) to issue $500 million in securities. This move follows the company’s announcement of a $30 million settlement with the Department of Justice (DOJ). The funds raised are expected to be used for various corporate purposes, including acquiring more Bitcoin.
Semler Scientific Settlement with DOJ
Semler Scientific has reached a tentative agreement with the DOJ, agreeing to pay $29.75 million to settle claims related to marketing its flagship product, QuantaFlo. The settlement addresses accusations of potential violations of federal anti-fraud laws.
While the DOJ’s investigation started in 2017, it was only in recent months that Semler entered discussions to resolve the matter. The company stated that it has complied with several subpoenas over the years, which led to the current settlement negotiations.
In its Tuesday filing with the U.S. Securities and Exchange Commission (SEC), Semler disclosed that the settlement agreement is not final yet. If the agreement is approved, the company plans to use a loan from Coinbase, secured by its Bitcoin holdings, to fund the $30 million payment. Semler’s current Bitcoin holdings amount to 3,192 BTC, valued at approximately $267 million today.
Bitcoin as Collateral for Loan from Coinbase
To finance the settlement, Semler Scientific has partnered with Coinbase, one of the largest cryptocurrency exchange.
According to the terms of the contract, the firm will receive a cash and digital asset loan from it, backed by its BTC balance.
The crypto-based loan from Coinbase will ensure Semler has adequate balance to facilitate settlement without straining its balance in other aspects of its operations.
Plans for Further BTC Purchases
Not limiting itself to the $30 million DOJ settlement, Semler Scientific has hinted at intent to purchase more Bitcoin. To issue new securities, the company has submitted an S-3 for registration with the SEC in an effort to offer $500 million in securities.
The funds raised from this selling will increase the company’s Bitcoin holdings, which it has outlined as a plan to diversify cryptocurrency.
Semler’s intentions of acquiring more Bitcoin come simultaneously with those of other firms, such as Michael Saylor’s Strategy, which also accumulates the cryptocurrency. Just recently, Strategy bought 3,459 bitcoins for $285.8 million, and thus, it is now holding 531,644 bitcoins.
Similarly, Metaplanet has bought $26.3m worth of Bitcoins, demonstrating that the firm remains bullish in this market volatility. These purchases come in light of a potential reversal in the Bitcoin price that some analysts, such as the Titan of Crypto, have estimated to hit $137,000.
The post Semler Scientific Files To Buy $500M in Bitcoin Amid $30M DOJ Settlement appeared first on CoinGape.
]]>Semler Scientific has announced an increase in its convertible senior notes offering to $85 million from the previously planned $75 million. The company also granted initial purchasers the option to buy an additional $15 million in notes. This move aligns with its corporate strategy, which includes further investment in Bitcoin.
Semler Scientific Announces $85M Private Offering
In a press release, Semler Scientific announced that it had priced its private offering of $85 million aggregate principal amount of 4.25% convertible senior notes due 2030. The offering is made in reliance on the exemption provided by Rule 144A under the Securities Act of 1933, which permits the offer of securities to certain qualified institutional buyers. Subject to the satisfaction of certain conditions, the transaction is anticipated to be completed on January 28, 2025.
The notes are not secured, and the interest will be compounded at a rate of 4.25% per annum and will be paid on the first of February and the first of August of every year, starting from August 1, 2025. The conversion rate at the commencement of the offering is 13.0826 shares per $1,000 principal amount, which implies a conversion price of $76.44 per share. This is a 25% premium over the last reported stock price on January 23, as reported at the Nasdaq stock exchange. Semler Scientific can elect to receive the consideration in cash, stock, or a combination of both after the conversion.
The notes are not redeemable by the company before August 4, 2028. From this date, redemption is allowed if the common stock of Semler Scientific is trading at not less than 130% of the conversion price for a particular period. If a “fundamental change” occurs, for example, a merger or acquisition, noteholders are entitled to put their notes to the company and compel it to repurchase the notes at their face value plus interest.
Capped Call Transactions and Potential Market Effects
To limit the dilutive impact of note conversions, Semler Scientific used capped call transactions with financial institutions. These transactions establish a cap price of $107.01 per share, which is 75% above the last trading price of the stock on the 23rd of January 2025.
The company also anticipates that the financial institutions involved will offset their exposure by acquiring and liquidating Semler Scientific shares.
As a consequence, these activities may affect the price of the stock before and after the transaction. If the option held by initial purchasers to purchase more notes is exercised, Semler Scientific anticipates that it will undertake further capped call transactions.
Semler Scientific Bitcoin Investment Strategy
Semler Scientific expects to receive gross proceeds of approximately $89.0 million in this offering, with net proceeds of approximately $81.4 million, or $95.8 million, if the additional $15 million option is exercised.
The company will spend $6.6 million on the capped call options, and the rest of the money will be spent on corporate purposes, such as buying more Bitcoin.
This move comes after the company announced plans to raise $75 million to expand its Bitcoin strategy as part of its overall financial approach. The company has expressed its focus on digital assets, following the trend of corporations adopting Bitcoin on their balance sheets.
Bitcoin Market Developments and Broader Context
Semler Scientific’s decision follows a trend that has seen institutional investors and governments express interest in Bitcoin.
The US government is said to be looking into the possibility of holding a Bitcoin reserve, with Senator Cynthia Lummis in charge of the Senate’s Digital Assets Subcommittee.
During the World Economic Forum, BlackRock CEO Larry Fink met with sovereign wealth fund managers to discuss Bitcoin investment approaches. Fink remarked that the Bitcoin price could reach as high as $700,000 if these fund managers allocate 2% to 5% of their portfolios in Bitcoin.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Semler Scientific, a medical technology company, announced its intention to raise $75 million through a private offering of convertible senior notes due 2030. This move aligns with the company’s ongoing focus on expanding its Bitcoin strategy while addressing other corporate financial objectives. The offering also includes an option for initial purchasers to acquire an additional $15 million in notes.
Semler Scientific Unveils $75M Private Offering to Advance Bitcoin Strategy
In a recent press release, Semler Scientific revealed plans to raise $75 million through a private offering of convertible senior notes. The notes, set to mature in 2030, will accrue interest payable semiannually and will be senior unsecured obligations of the company. Investors can convert the notes into cash, shares of Semler Scientific stock, or a combination of both.
The offering is designed to provide Semler Scientific with additional financial resources, specifically targeting its Bitcoin strategy. A portion of the proceeds will also support general corporate initiatives. The company has emphasized that the terms of the notes, including interest and conversion rates, will be finalized during the offering’s pricing stage.
More so, this move comes days after the medical technology company achieved a 99.3% BTC Yield, reflecting the strength of its Bitcoin treasury strategy. The recent acquisition, supported by proceeds from its ATM offering, raised Semler Scientific’s BTC holdings.
Capped Call Transactions To Mitigate Stock Dilution
As part of the offering, Semler Scientific plans to engage in capped call transactions with financial institutions. These transactions will reduce the impact of dilution on the company’s common stock arising from note conversions. The capped call agreements are expected to cover the initial number of shares underlying the notes, with provisions for adjustment.
To facilitate the capped call transactions, Semler Scientific and its counterparties may conduct various derivative transactions or purchase company stock shares. These activities could influence the market prices of the notes and the company’s stock.
Additionally, the company expects these counterparties to adjust their hedging strategies during the note observation period. This activity, or any response to early note conversions, could potentially impact the stock’s value.
Stock Declines Amid Announcement
Following the announcement, Semler Scientific Inc (SMLR) stock experienced a 12.5% decline, reflecting market concerns over potential share dilution. Investors are reacting cautiously to the issuance of convertible senior notes despite the company’s BTC profits.
Preliminary financial results for Q4 2024 indicate revenues between $12.1 million and $12.5 million, with operating income ranging from $3.4 million to $3.7 million. Semler Scientific also reported an unrealized Bitcoin gain of $28.9 million, showcasing the benefits of its treasury strategy.
The company’s Bitcoin holdings total 2,321 Bitcoins, acquired at an average price of $82,689 per coin. As of December 31, 2024, Semler Scientific held approximately $9 million in cash and equivalents, signaling strong liquidity to support its future initiatives.
Meanwhile, Binance founder Changpeng Zhao has confirmed the prospect of a strategic Bitcoin reserve through a recent X post. He expressed confidence in the initiative, stating, “US Strategic Bitcoin Reserve, pretty much confirmed.” Adding a humorous note, Zhao remarked that “crypto is moving at crypto speed again,” reflecting optimism for growth.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Semler Scientific, Inc., a medical technology company focused on combating chronic diseases, has expanded its Bitcoin holdings significantly. The company recently acquired 237 BTC, bringing its total reserves to 2,321 Bitcoin. This move reflects Semler’s ongoing strategy of increasing its cryptocurrency treasury to enhance shareholder value.
Semler Scientific Boosts Bitcoin Holdings to 2,321 BTC with 99.3% BTC Yield
In a recent statement, Semler Scientific confirmed acquiring 237 Bitcoin between December 16, 2024, and January 10, 2025. The acquisition was made at an average price of $98,267 per Bitcoin, including fees. These purchases added $23.3 million worth of Bitcoin to its reserves, which now total 2,321 BTC.
The company stated its total Bitcoin investment amounts to $191.9 million. Semler’s strategy focuses on using Bitcoin as a treasury asset to drive long-term growth and shareholder value.
Additionally, Semler Scientific funded its Bitcoin acquisitions through an at-the-market (ATM) offering and operational cash flow. As of January 10, 2025, the company had generated $121.8 million in gross proceeds under its ATM sales agreement with Cantor Fitzgerald.
The ATM program, which was expanded by $50 million in December 2024, enables the company to issue additional shares for strategic investments. This financing model underpins Semler Scientific’s continued ability to grow its Bitcoin holdings.
Interestingly, institutional Bitcoin adoption has risen with Michael Saylor’s MicroStrategy announcing another massive purchase of 2,530 BTC today, worth $243 million. This brings its total holdings to 450,000 BTC, acquired for $28.2 billion. Despite the move, MSTR stock declined after Bitcoin’s price dropped below key support levels.
Bitcoin Adoption and Key Performance Indicators
Since adopting its Bitcoin treasury strategy in July 2024, Semler Scientific has monitored its performance through a key performance indicator (KPI) known as BTC Yield. From July 2024 to January 2025, the company achieved a 99.3% BTC Yield, reflecting the effectiveness of its treasury management.
Bitcoin adoption remains integral to Semler Scientific’s financial strategy. The company has consistently emphasized its focus on increasing Bitcoin reserves.
Semler Scientific remains committed to its Bitcoin strategy, with plans to continue acquiring Bitcoin through proceeds from its ATM program and cash flow.
BTC Price Action
Meanwhile, Bitcoin’s 24-hour price action shows a 3.34% drop, falling from $94,820 to $91,700. Trading volume surged by 193.09%, reaching $58.6 billion, as the market cap stands at $1.81 trillion. BTC struggles to hold key support amid market volatility.
A recent report by CoinGape highlighted the reasons behind today’s drop in Bitcoin price. The decline is attributed to a strong jobs market diminishing hopes for rate cuts, technical exhaustion following Bitcoin’s rally to $100K, and profit-taking ahead of President-elect Donald Trump’s inauguration. Key support remains at $90,804.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Semler Scientific, Inc. (SMLR), a company offering technology solutions for chronic diseases, announced updates regarding its crypto acquiring activity by confirming buying $21.5 million worth of Bitcoin. The company also updated its capital markets strategy and overall KPIs.
The company, which adopted a BTC treasury strategy earlier this year, decided to consolidate cryptocurrency further as a vital part of its financial strategy.
Semler Scientific (SMLR) Expands Bitcoin Holdings and Updates ATM Offering
Semler Scientific, Inc. (SMLR), a provider of technology solutions for monitoring chronic diseases, has provided updates to its Bitcoin acquisition strategy; it has acquired $21.5 million in BTC.
Eric Semler, Chairman of the Board of Directors at Semler Scientific, disclosed that the company has acquired 211 Bitcoins. The price was approximately $21.5 million at an average price of $101,890 per BTC.
Since adopting its strategy in May 2024, Semler Scientific has achieved a BTC Yield of 67.0% quarter-to-date and 92.8% overall. As of December 15, 2024, the company held a total of 2,084 BTC, purchased for roughly $168.6 million at an average price of $80,916 per Bitcoin.
Semler Scientific has acquired 211 BTC for ~$21.5 million at ~$101,890 per #bitcoin and has generated BTC Yield of 67.0% QTD and 92.8% since adopting our BTC treasury strategy in May. As of 12/15/24, we held 2,084 $BTC acquired for ~$168.6 million at ~$80,916 per bitcoin. $SMLR
— Eric Semler (@SemlerEric) December 16, 2024
On December 16, 2024, Semler Scientific increased the total shares available under its ATM offering by $50 million, bringing the total potential to $150 million. The company had raised $100 million in gross proceeds by selling its shares by December 13.
SMLR’s approach puts it in the same league as MicroStrategy, albeit on a smaller scale, with the latter holding billions worth of BTC. Just for reminder, MicroStrategy recently bought 15,350 Bitcoin worth around $1.5 billion.
SMLR has strengthened its fundraising through a Controlled Equity Offering agreement with Cantor Fitzgerald & Co. Under the agreement, the company may sell common stock via an at-the-market offering.
BTC Yield as a Performance Indicator
Semler Scientific appears committed to enhancing shareholder value through its Bitcoin treasury strategy. The recent earnings transcript and press release highlight this focus. Central to the strategy is the “BTC Yield,” a key performance indicator. This KPI measures percentage changes in Bitcoin holdings relative to the company’s diluted share count. It helps gauge how well the strategy contributes to stockholder returns.
For Q4 2024, Semler reported a BTC Yield of 67% and 92.8% since adopting the strategy in Q3. BTC Yield reflects changes in the ratio of Bitcoin holdings to Assumed Diluted Shares Outstanding. This calculation includes all stock options but excludes vesting conditions and exercise prices.
The company presents BTC Yield as a tool for investors to evaluate its use of capital raised from stock sales to buy Bitcoin.
Looking Ahead
Semler Scientific furthers its twin strategies of raising capital through equity offerings and investing in Bitcoin. It also claims cryptocurrency plays a pivotal role in increasing shareholder value.
It is not alone in adopting a BTC-focused treasury strategy either. Last week, crypto mining giant Riot Platforms Inc. has significantly expanded its cryptocurrency holdings with acquisition of 5,113 Bitcoin for approximately $510 million. That is how it reinforced its position as a major player in the mining of the largest cryptocurrency and investment space.
This is yet another sign that crypto is gaining traction as a corporate asset. While SMLR, based in the US, doesn’t face the same currency challenges, its move highlights a broader trend of companies increasingly turning to Bitcoin as a strategic financial asset.
As much as the company’s BTC Yield metric sheds some light on this strategy, the long-term effectiveness of such bets would remain pegged to the volatility and mainstreaming of BTC in more macrofinancial markets.
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Semler Scientific, a company focused on healthcare technology products, has announced the acquisition of an additional 303 Bitcoins for a total of $29.3 million. This purchase was made between November 25 and December 4, 2024, utilizing proceeds generated from the company’s at-the-market (ATM) offering. The acquisition occurred at an average price of $96,779 per Bitcoin, including related fees and expenses.
Semler Scientific Purchases Additional 303 BTC For $29M, Boosts Holdings to 1,873
According to a recent press release, Semler Scientific has expanded its Bitcoin holdings with the purchase of 303 Bitcoins for $29.3 million. These acquisitions were made during a 10-day period ending December 4, 2024. They reflect an average acquisition price of $96,779 per Bitcoin, inclusive of fees and expenses.
Following this purchase, the company’s total Bitcoin holdings have grown to 1,873, valued at an aggregate purchase price of $147.1 million. The company’s Bitcoin acquisition strategy will leverage its capital markets activity to increase digital asset holdings.
Most recently, the healthcare company announced the acquisition of 297 Bitcoin for a total of $29.1 million between November 18 and November 22, 2024. This brought the company’s total Bitcoin holdings to 1,570 BTC, valued at approximately $117.8 million. The company purchased these Bitcoins at an average price of $97,995 per BTC, including related fees.
ATM Offering Fuels Bitcoin Purchases
Notably, to fund its recent Bitcoin acquisitions, Semler Scientific utilized proceeds from its ongoing at-the-market (ATM) offering. On November, the company filed a prospectus supplement to its existing registration statement, increasing the total offering to $100 million.
As of December 4, 2024, the company has generated $79.8 million in gross proceeds through this ATM offering. This is being managed under a Controlled Equity OfferingSM Sales Agreement with Cantor Fitzgerald & Co.
The additional funding supports the recent Bitcoin purchases and positions the company to further execute its corporate initiatives. Consequently, Semler Scientific has managed to acquire substantial Bitcoin holdings while maintaining liquidity.
In addition, Semler Scientific uses BTC Yield, a performance metric that evaluates the return on its BTC acquisition strategy. From October 1 to December 4, 2024, the company reported a BTC Yield of 54.7%, while the cumulative yield since adopting its Bitcoin treasury strategy in July 2024 reached 78.7%.
This performance metric underscores the company’s approach to increasing shareholder value through Bitcoin investments. The reported BTC Yield reflects the alignment of its acquisition strategy with market dynamics and capital generation efforts.
At press time, Bitcoin is trading at $103,242, up 7% in the past 24 hours. Its market cap has reached $2.04T, with a 24-hour trading volume of $132.57B, marking a 116% increase. The price rebounded strongly from $95,980 to over $103K, maintaining upward momentum.
Following the recent BTC rally, Bitcoin adoption has been on the rise, with more companies integrating crypto into their corporate strategies. Worksport, a US-based manufacturer announced its decision to adopt Bitcoin and XRP as part of its corporate treasury, with the company set to purchase up to $5 million in these digital assets.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Semler Scientific, a healthcare-focused technology company, announced an update on its Bitcoin holdings, revealing the acquisition of an additional 297 BTC between November 18 and November 22, 2024. The company spent $29.1 million on these purchases, with an average price of $97,995 per Bitcoin, including associated fees.
$29.1M Bitcoin Buy Pushes Semler Scientific’s Holdings Past 1,500 BTC
According to a recent announcement, Semler Scientific has increased its Bitcoin reserves to a total of 1,570 BTC. The company’s Bitcoin purchases, made at a cumulative cost of $117.8 million, reflect an average price of $75,039 per Bitcoin.
Between November 18 and November 22, 2024, the company acquired 297 BTC for $29.1 million, paying an average price of $97,995 per Bitcoin. This latest addition highlights Semler Scientific’s commitment to its Bitcoin strategy, aiming to strengthen its balance sheet amid growing interest in digital assets as an alternative reserve.
This latest purchase is not the first this month, as the healthcare technology startup increased its Bitcoin holdings to 1,058 BTC earlier in November, investing $3 million at an average price of $67,500 per BTC.
ATM Offering Secures $50M to Fund Bitcoin Strategy
In addition, the startup raised $50 million through its at-the-market (ATM) offering, increasing the total amount raised to $100 million under its Controlled Equity Offering agreement. The additional capital is allocated to operational needs and future Bitcoin purchases, reinforcing its treasury management approach.
The ATM offering aligns with Semler Scientific’s strategy to fund its Bitcoin investments through equity sales. This financial mechanism has allowed the company to increase its cryptocurrency holdings since adopting the strategy.
Moreover, Semler Scientific’s BTC Yield, a key performance indicator, highlights the effectiveness of its Bitcoin treasury strategy, achieving 58.4% since its inception in July 2024. This metric underscores the company’s ability to generate substantial returns on its Bitcoin investments.
Nevertheless, MicroStrategy has been one of the most active public companies in accumulating Bitcoin. Recently, MicroStrategy announced that it had purchased an additional 55,500 BTC for $5.4 billion at an average cost of $97,862 per coin.
The Bitcoin strategy of Semler Scientific can be explained by the growing tendency of public corporations worldwide to add digital assets to their portfolios. Due to such attention, Bitcoin continues to set itself as a relevant asset for corporate treasuries.
Meanwhile, Bitcoin price has maintained its bullish rally, trading at $94,837.24 with a 5.27% gain over the past seven days as BTC whales buy the dip. The market cap now stands at $1.88 trillion, with 24-hour trading volume surging by 42% to $69.13 billion.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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