Semler Scientific added 303 Bitcoin worth $29.3M to its corporate treasury, raising its total holdings to 1,873 BTC, valued at $189M. The company now ranks 14th among publicly traded firms in Bitcoin holdings.
Semler Scientific, a healthcare technologies company, has augmented its corporate treasury with additional Bitcoin, thereby joining an expanding list of organizations that are accumulating the asset this year.
Semler Scientific Bitcoin Investments
According to a statement issued on Wednesday, Semler acquired 303 Bitcoins at an average price of $96,779 between November 25 and December 4.
“We are very pleased to report BTC Yield of 78.7%,” Company Chairman Eric Semler said in the statement.
The company, which is headquartered in Santa Clara, California, currently possesses 1,873 Bitcoin, which are valued at over $189 million at its current price.
Semler has consistently increased its holdings over the course of the year, with the most recent acquisition being 215 Bitcoin in early November.
According to Bitcoin Treasuries data collected by BitBo, it occupies the fourteenth position among publicly traded companies with a treasury of 1,873 BTC.
In order to acquire Bitcoin, Semler issues shares of common stock and monitors the ratio of its Bitcoin holdings to those shares using a recently implemented key performance indicator known as “BTC Yield.”
In May, the company implemented its Bitcoin treasury strategy, asserting that Bitcoin had “the potential to generate outsized returns as it gains increasing acceptance as digital gold.” This assertion was echoed by Federal Reserve Chair Jerome Powell on Wednesday, which garnered significant attention.
The decision is in accordance with the adoption of comparable strategies by numerous organizations.
The BTC Yield indicator is a critical performance metric that MicroStrategy employs to measure the percentage change over time in the ratio of the company’s total Bitcoin holdings to its assumed diluted outstanding shares. The company owns over $40 billion worth of Bitcoin.
Metaplanet, a Japanese company, has also been purchasing the asset in an active manner, resulting in a more than doubling of its Bitcoin holdings. At the same time, the value of its holdings has increased in a renewed bull market.
The NASDAQ stock exchange is the platform on which Semler Scientific (SMLR) is traded, and it has experienced a nearly 33% increase in value this year. The stock closed the day at $58.55, a loss of nearly 7.6%.