Healthtech firm Semler buys more bitcoin, now holds 4,449 BTC

Semler Scientific, a Nasdaq-listed healthcare technology company, has purchased 185 bitcoin for about US$20 million.

The acquisition, made between May 23 and June 3 at an average price of US$107,974 per bitcoin, was disclosed in a filing with the US Securities and Exchange Commission.

The purchase was funded through proceeds from the company’s at-the-market (ATM) stock issuance program.

As of June 3, Semler has sold 3,544,588 shares under this program, raising about US$136.2 million in net proceeds.

The company now holds a total of 4,449 BTC, valued at around US$467 million based on current prices.

Semler has invested roughly US$410 million in bitcoin, with an average purchase price of US$92,158 per coin.

The company ranks 15th among firms holding bitcoin in their corporate treasury.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Equity-to-bitcoin conversion represents emerging corporate treasury strategy

Semler Scientific’s approach of raising capital through stock sales specifically to purchase bitcoin represents a deliberate financial engineering strategy gaining traction among public companies.

The company has sold 3.5 million shares to raise $136.2 million through its at-the-market (ATM) program, with a substantial portion directed to bitcoin acquisitions 1.

This strategy effectively provides shareholders with leveraged exposure to bitcoin without requiring them to purchase the cryptocurrency directly, creating a pseudo-bitcoin ETF structure within a publicly traded company.

The healthcare tech firm’s total investment of approximately $410 million in bitcoin has already generated unrealized gains of $56-62 million based on current market prices, suggesting initial financial validation of the approach 2.

This equity-to-bitcoin conversion strategy allows companies to acquire significant cryptocurrency positions without touching existing cash reserves or taking on debt, potentially creating a new model for corporate treasury management.