Semler Scientific Inc., a healthcare tech company, plans to increase its Bitcoin holdings by almost 28 times over the next 2 1/2 years. It will go from 3 808 Bitcoin to 105,000 Bitcoin.
Semler wants to own a total 10,000 Bitcoins.BTCThe company aims to reach its target of 105,000 BTC in 2027 by the year’s end. said On Thursday,
To reach this target, it plans on using debt financing, operational cash flows, equity and other sources of funding. It has also appointed a director who will lead the project.
Semler purchased Bitcoins in May 2024, and stated that it will continue to purchase and hold Bitcoins for the long-term. Since then, it has purchased over 3,800 BTC. It is the thirteenth-largest Bitcoin holding among publicly traded companies. according to BitBo data.
Semler’s Plan comes in the midst of a trend that publicly traded firms Some businesses prioritize Bitcoin purchases over their core operations.
Semler will hold 0.5% (or 105,000 BTC) of Bitcoin’s 21-million fixed supply. Metaplanet, a Japanese investment firm, announced its plans to invest in Bitcoin on June 9. purchase 210,000 Bitcoin The end of 2027.
Joe Burnett will lead Bitcoin Strategy
Semler stated that it was hired Bitcoin researcher Joe Burnett, its “director of Bitcoin strategy” The plan is to buy Bitcoins at a high rate.
Burnett served previously as Director of Market Research at Bitcoin Financial Services firm Unchained, and as Head Analyst at Bitcoin Mining firm Blockware Solutions.
Burnett has worked in the Big Four accounting firm EY (formerly Ernst & Young) before moving into the Bitcoin industry full-time.
“The trend to adopt Bitcoin as part of corporate treasury is clearly accelerating,” He said it in his announcement.
VanEck says Semler should reconsider Bitcoin purchase:
Matthew Sigel, a VanEck crypto analyst, said that public companies buying Bitcoin should take into consideration sunsetting their strategies If their share prices drop dramatically, they may have to sell all of them.
He said that companies who use large programs at the market to raise money for Bitcoin purchases could face issues if their stocks start trading close to its net asset values, because issuing additional shares may dilute shareholders’ value rather than boost it.
Semler noted that no company in the public sector has yet reached this point. “is now approaching parity.”
Semler Scientific Inc. shares (SMLR), have fallen by almost 41% in the past year, and they are now approaching a price similar to before it started purchasing Bitcoin. according Google Finance
Semler at $177 million paper gain on Bitcoin
Semler’s Bitcoin investment yielded 287%, and the unrealized gains were $177,000,000 as of June 3, 2016.
The company also holds the 4th highest Bitcoin per share, 0.00034, among 130 Bitcoin public companies. tracked by BitcoinTreasuries.NET.
Bitcoin per Share shows how much Bitcoin each share of a particular company is exposed to and the potential effect on its stock price.
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Source: cointelegraph.com
