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Semler Scientific (NASDAQ:SMLR), a healthcare technology and software firm, has reported substantial gains from its Bitcoin investment strategy. The company announced it had acquired 871 Bitcoin between January 11 and February 3, 2023, for a total of $88.5 million, at an average price of $101,616 per Bitcoin.
As of February 3, Semler held 3,192 Bitcoins, which were purchased for an aggregate cost of $280 million, averaging $87,854 per coin. The current market value of this investment stands at approximately $313 million.
The company’s Bitcoin treasury strategy, which began in full force on July 1, has yielded an impressive 152% return to date, with a 22% gain since the beginning of the year. Semler’s foray into cryptocurrency was funded through a senior convertible notes offering and the partial monetization of its minority stake in Monarch Medical (TASE:PMCN) Technologies.
On January 23, Semler disclosed plans to raise $75 million via a private offering of convertible senior notes to further its Bitcoin acquisition strategy. Semler Scientific chairman Eric Semler expressed excitement about the growth of the company’s Bitcoin reserves and satisfaction with the decision to liquidate a portion of their investment in Monarch Medical to increase their Bitcoin holdings.
These latest figures position Semler Scientific as the 10th-largest corporate holder of Bitcoin, according to data from Bitcoin Treasuries. This news comes as MicroStrategy, the world’s largest corporate Bitcoin holder, announced on February 3 that it would stop buying Bitcoin and maintain its existing holdings, which are valued at around $46 billion. In contrast, Semler Scientific’s CEO Doug Murphy-Chutorian stated in November that the company remains "laser-focused" on its strategy to acquire and hold Bitcoin.
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