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Semler Scientific has taken a resolute stance on its Bitcoin strategy, announcing on November 4 that it plans to continue expanding its holdings of the cryptocurrency. The company added another 40 BTC after the third quarter ended, bringing its total holdings to 1,058 BTC, with a cumulative purchase amount of $71 million.
The announcement follows the addition of 141 BTC in Q3, acquired at an approximate cost of $8.4 million, highlighting Semlerâs commitment to growing its Bitcoin reserves despite the volatile nature of the market.
According to CEO Doug Murphy-Chutorian, the decision aligns with the companyâs broader vision to invest in both the healthcare business and digital assets. âWe remain laser-focused on acquiring and holding Bitcoin while supporting innovation and growth in our healthcare business,â Murphy-Chutorian said. Semlerâs interest in Bitcoin, now worth nearly $72 million as prices hold steady around $68,000, reflects the companyâs strategy to balance its core business initiatives with a calculated approach to cryptocurrency investment.
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Positioning Among Public Companies
Semlerâs significant Bitcoin holdings have positioned it as the 17th-largest Bitcoin holder among publicly traded companies, surpassing the 1,018 BTC held by Japanâs Metaplanet, according to Bitcoin Treasuries data. Although these rankings may fluctuate with Semlerâs ongoing acquisition strategy, Chairman Eric Semler has made it clear that the companyâs approach is calculated.
âWe are capitalizing on the opportunity to maximize stakeholder value by accumulating Bitcoin,â he stated, adding that the company aims to make additional purchases funded by cash flow from operations, proceeds from sales, and potentially new financing channels.
In addition to direct investments, Semler is exploring other financing options that could accelerate its Bitcoin acquisition strategy. The move underscores a shift among corporations to leverage both traditional and alternative assets in pursuit of long-term growth and shareholder value, especially as institutional interest in Bitcoin continues to gain traction.
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Shareholder Reactions
News of the expanded Bitcoin portfolio prompted a positive reaction in after-hours trading, with Semlerâs share price rising 3.44% to $31 following a closing price of $29.97, according to Google Finance data. However, the companyâs stock remains down over 32% for the year, and Q3 results painted a mixed picture. While quarterly revenue fell by 17% year-on-year to $13.5 million, net income rose by 2% to $5.6 million compared to the same period in 2023.
As Semler continues to build its Bitcoin holdings, its dual focus on healthcare and cryptocurrency investment presents a unique growth narrative in the public company sphere.
