Semler Scientific Doubles Down On MicroStrategy Playbook With Another $29 Million Bitcoin Buy ⋆ ZyCrypto
The post Semler Scientific Doubles Down On MicroStrategy Playbook With Another $29 Million Bitcoin Buy ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Medical device manufacturer Semler Scientific has continued its strategy of purchasing Bitcoin (BTC) for its corporate treasury, scooping up an additional 303 BTC for an aggregate cost of $29.3 million. Semler Scientific Boosts Bitcoin Holdings To 1,873 The firm announced its latest buy in a Thursday press release, noting that its purchase of BTC from November 25 to December 4 brought its total Bitcoin holdings to 1,873 BTC at an aggregate cost of $147.1 million, including fees and expenses. The company’s BTC stack is now valued at over $184 million at current prices. Semler Scientific evaluates the success of its BTC acquisition strategy using Bitcoin yield as a key performance indicator. The company noted that the KPI is used to “supplement an investor’s understanding” of the firm’s decision to fund BTC acquisitions by issuing additional shares of its common stock. In the press release, Eric Semler, chairman of Semler Scientific, revealed that the company had achieved a BTC Yield of 78.7%, demonstrating substantial growth for stakeholders. Bitcoin Race Heats Up As Companies Expand Holdings Semler Scientific first announced plans to adopt Bitcoin as its primary treasury reserve asset in May, with the initial acquisition of 581 BTC for $40 million. Eric argued at the time that the premier crypto has “the potential to generate outsize returns as it gains increasing acceptance as digital gold.” Advertisement   Semler Scientific is one of the growing list of companies adopting a strategy of buying Bitcoin for their corporate treasury, following in the footsteps of business intelligence firm MicroStrategy. Under Michael Saylor’s leadership, MicroStrategy has bought 402,100 BTC, now worth over $39 billion. Semler Scientific is currently the 14th largest Bitcoin holder among publicly traded companies holding Bitcoin on their balance sheets. Other firms have also followed suit, including Japanese investment…
Filed under: News - @ December 6, 2024 4:23 pm