Semler Scientific Adds $16.2 Million of Bitcoin as It Ramps Up BTC Buying Spree

Semler Scientific snapped up 167 Bitcoins worth $16.2 million between April 30 and May 2, bringing the number of tokens in its BTC treasury to 3,634, according to the firm’s regulatory disclosure filed on Monday.

The medical device firm's Bitcoin treasury is worth $342 million based on Bitcoin’s price of $94,286 as of the time of writing, according to crypto data provider CoinGecko.

Semler Scientific stock is trading at $34.10, down 5% over the past day. However, the stock’s value has grown roughly 23% since the company started buying Bitcoin last year.

The company acquired 167 Bitcoins at an average purchase price of $97,093 per bitcoin, including fees and expenses, according to its filing. The average price per token of its Bitcoin stash was $88,668 as of May 2.

Semler Scientific’s latest purchase comes as the firm ramps up its Bitcoin-focused corporate strategy, following a strategy pioneered by Strategy, which pivoted its focus from software development to bitcoin accumulation in 2020..

Over the past 10 days, Semler has reported executing three large Bitcoin buys, adding more than $40 million worth of the token to its balance sheet.

Semler’s latest buying spree also comes amid a positive streak in the digital assets market, with Bitcoin ETFs in the U.S. attracting $1.8 billion last week. Despite a dip on Monday, Bitcoin is up more than 6% over the past 14 days—part of an upswing in risk-on assets stemming from investor hopes for an end to the current trade war.

Amid that positive market momentum, Semler Scientific’s CEO has publicly doubled down on his firm’s commitment to HODLing Bitcoin.

“If we lose money by Bitcoin, it's not gonna force us to sell,” Semler said last month at Bitwise's Bitcoin Standard Corporation Investor Day event in New York. “You can sell or stop if you don't like what we've done with Bitcoin.”

Edited by James Rubin