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Semler Scientific, Inc., a medical technology company, has significantly increased its Bitcoin ($BTC) holdings. Between December 16, 2024, and January 10, 2025, the company acquired 237 $BTC at an average price of $98,267 per Bitcoin, including fees. This addition, valued at $23.3 million, raises the company’s total Bitcoin reserves to 2,321 $BTC.
Semler Scientific’s $BTC Game
The company’s total investment in Bitcoin now amounts to $191.9 million. Semler Scientific has emphasized its strategy of using Bitcoin as a treasury asset aimed at supporting long-term growth. The purchases were funded through a combination of an at-the-market (ATM) offering and operational cash flow.
Semler Scientific has acquired 237 $BTC for ~$23.3 million at ~$98,267 per #bitcoin and has generated $BTC Yield of 99.3% since adopting our $BTC treasury strategy in May 2024. As of 1/10/2025, we held 2,321 $BTC acquired for ~$191.9 million at ~$82,687 per bitcoin. $SMLR
— Eric Semler (@SemlerEric) January 13, 2025
As of January 10, 2025, the ATM sales agreement with Cantor Fitzgerald has generated $121.8 million in gross proceeds. In December 2024, the company expanded the ATM program by $50 million, enabling it to issue additional shares for investments such as these. Meanwhile, companies like MicroStrategy and Metaplanet have also boosted their $BTC holdings with frequent purchases since last year.
Bitcoin Market Update
In the last 24 hours, Bitcoin price has dropped 3.34%, falling from $94,820 to $91,700. Trading volume surged 193.09%, reaching $58.6 billion, while the market capitalization stands at $1.81 trillion. Despite the recent downturn, $BTC’s key support level is holding at $90,804. Hence, a rebound could be on the cards, according to popular analysts.
The decline has been attributed to several factors, including profit-taking following $BTC price rally to $100,000, concerns about technical exhaustion, and market reaction to a strong jobs report that has reduced expectations for interest rate cuts. Additionally, the upcoming inauguration of President-elect Donald Trump has contributed to the increased market volatility.
Also Read: JPMorgan CEO Says, “Bitcoin Has No Intrinsic Value”