Nasdaq-listed medical device maker Semler Scientific has expanded its bitcoin (btc) holdings, acquiring an additional 303 btc for $29.3 million. The company continues to double down on its MicroStrategy-inspired corporate treasury strategy.
bitcoin's high price is not a barrier to purchase
bitcoin made history this week by surpassing the $100,000 price level for the first time, raising its total market capitalization to over $2 trillion. Despite btc's record price, corporate buyers like Semler Scientific are unfazed and continue to accumulate the flagship cryptocurrency.
According to a recent <a target="_blank" href="https://ir.semlerscientific.com/news-releases/news-release-details/semler-scientificr-announces-updated-btc-and-atm-activity-0″ target=”_blank” rel=”noopener nofollow”>advertisementSemler Scientific has added another 303 btc to its holdings. Notably, the last purchase was made from November 25 to December 4, at an average price of $96,779, including fees and expenses.
This brings the company's total bitcoin holdings to 1,873 btc, acquired at a combined cost of $147.1 million and an average purchase price of $78,553 per btc. These significant holdings place Semler Scientific among the top publicly traded companies that hold btc as part of a corporate treasury strategy.
Semler's btc performance from October 1 to December 4 stood at 54.7%. This is lower compared to the performance from July 1, when it adopted btc as a corporate asset, to December 4, which was 78.7%. Eric Semler, President of Semler Scientific, commented:
We are very happy to report a btc return of 78.7%. Additionally, we have sought approval from options exchanges to allow trading of options on our shares as we believe we meet their eligibility requirements.
For clarity, btc performance is a key performance metric that Semler uses to evaluate the effectiveness of its bitcoin investment strategy, which aims to maximize shareholder value. The company also uses this metric to help investors understand its decision to fund btc purchases by issuing additional common shares.
How do Semler Scientific's btc holdings compare to other companies?
First scientist Semler sleepless his btc acquisition strategy earlier this year in May with a purchase of 581 btc for $40 million. Since then, the company has made multiple btc purchases. globe their total btc holdings at 1,873 as of today.
The company's latest btc purchase has taken it to 14th position, surpassing Japanese company Nexon with 1,717 btc, on the list of publicly traded companies that hold btc as part of corporate treasury strategy.
The leader in this space remains US business intelligence firm MicroStrategy, which continue to make major bitcoin purchases worth billions of dollars. MicroStrategy currently holds almost 2% of the total 21 million bitcoin supply.
Following MicroStrategy are crypto mining companies MARA with 33,875 btc, Riot Platforms with 10,019 btc and Elon Musk's Tesla with 9,720 btc. At press time, btc is trading at $99,355, down 3.8% in the last 24 hours.
Featured image from Unsplash.com, bitcoin Treasury charts and TradingView.com
