Semler Scientific Adds $16.2 Million of Bitcoin as It Ramps Up BTC Buying Spree
Semler Scientific purchased 167 Bitcoins for $16.2 million between April 30 and May 2, marking its third Bitcoin acquisition exceeding $10 million in ten days. The company now holds a total of 3,634 Bitcoins in its treasury, valued at approximately $342 million based on a Bitcoin price of $94,286. The average purchase price for the recent acquisition was $97,093 per Bitcoin, while the average price of its total Bitcoin holdings was $88,668 as of May 2. Semler's stock is currently trading at $34.10, down 5% in one day but up about 23% since it began buying Bitcoin last year. The firm is intensifying its Bitcoin-focused strategy, inspired by other companies that have shifted to Bitcoin accumulation. Recent market trends show Bitcoin ETFs in the U.S. attracted $1.8 billion last week, with Bitcoin prices rising over 6% in the past 14 days. Semler's CEO reaffirmed the company's commitment to holding Bitcoin long-term, indicating that losses would not prompt selling.
