Healthcare Tech Company Semler Buys More Bitcoin, Holdings Near $472 Million

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2 days ago

Nasdaq-listed healthcare technology firm Semler Scientific has purchased 185 Bitcoin worth $20 million, its eighth acquisition this year, according to a Securities and Exchange Commission filing.


The Santa Clara, California-based firm (SMLR) now owns roughly 4,450 BTC worth nearly $472 million, per current prices. Based on the value of Semler's holdings, it has become the 14th largest corporate holder of Bitcoin, just behind GameStop, according to Bitcoin Treasuries.


Semler began accumulating Bitcoin just over a year ago. Late last May, the medical device company reimagined itself as a Bitcoin treasury firm, saying that it would continue "developing and marketing technology products and services to healthcare providers to combat chronic diseases," while embracing Bitcoin as a place to park excess cash.



The company—and other small firms on the Nasdaq—are doing what software firm Strategy (formerly MicroStrategy) has been doing for five years: buying the leading cryptocurrency as a way to get shareholders better value for money. 




Tysons Corner, Virginia-based Strategy first bought Bitcoin in 2020. Since then, its stock (MSTR) has roared as investors buy equity in the company as a Bitcoin proxy. 


Strategy now calls itself a "Bitcoin treasury" and has 580,955 BTC—worth about $60.8 billion—in its coffers. Other companies that previously weren't focused on Bitcoin or crypto are trying the same game plan. 


Semler unveiled a $500 million at-the-money offering program in mid-April, and has also issued 3.5 million common shares to buy more Bitcoin. Semler signaled that it had issued around 540,000 common shares since disclosing its previous Bitcoin acquisition around two weeks ago, bringing the total amount of funds raised to $136 million.


Semler's share price was recently down 4.4% on Wednesday to $34.01, and the company's stock has dropped 37% year-to-date, according to Yahoo Finance.


Edited by James Rubin


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