Semler Scientific has deepened its commitment to Bitcoin by acquiring an additional 175 BTC for approximately $20.8 million. The purchase, disclosed in a recent SEC filing, was funded through proceeds from the company’s recent at-the-market (ATM) equity offering. Based on the filing, the average price paid per Bitcoin was $119,230.
This latest acquisition brings Semler’s total Bitcoin holdings to 5,021 BTC. At current market prices, this stash is worth around $595 million.
Bitcoin Strategy Gains Momentum
Since May 2024, Semler has positioned Bitcoin as its primary treasury asset. The strategy appears to be paying off, with the company reporting a 31.3% return on its Bitcoin investment year-to-date as of July 23.
Bitcoin was trading slightly higher in pre-market hours at around $118,500, after recently surpassing a record high above $120,000. Semler’s stock also saw a modest uptick of 0.46% in pre-market trading, although retail sentiment on platforms like Stocktwits has shifted into bearish territory.
Aggressive Growth Plans for BTC Holdings
Looking ahead, Semler has ambitious goals for its Bitcoin holdings. The company plans to double its current position to 10,000 BTC by the end of 2025. Even more aggressively, it aims to hold 42,000 BTC by the close of 2026 and reach a target of 105,000 BTC by 2027.
To fund this expansion, Semler intends to use a combination of equity offerings, debt instruments, and cash generated from operations. The company’s move places it among a growing list of publicly traded firms that are increasingly adopting Bitcoin as a long-term financial strategy.
Semler’s bold Bitcoin play is being closely watched by both institutional investors and retail traders as the cryptocurrency continues to gain legitimacy in the corporate world.
