Semler Scientific, a leading healthcare technology company, revealed that it acquired an impressive $88 million in Bitcoin in recent weeks, achieving a paper gain exceeding 150%.
In a press release dated February 4, Semler detailed the purchase of 871 Bitcoin (BTCUSD) between January 11 and February 3, spending a total of $88.5 million. The average price per Bitcoin during the acquisition was $101,616. The company also announced an aggregate yield of 152% from July 1, the first full quarter after the implementation of its Bitcoin treasury strategy, up to February 3. The yield so far in the current year stands at 22%.
As of February 3, Semler’s Bitcoin holdings were at 3,192 BTC, obtained at an aggregate cost of $280 million with an average purchase price of $87,854 per coin. The current market value of this investment is approximately $313 million.
The healthcare firm financed its crypto investment through the offering of senior convertible notes and the monetization of a part of its minority investment in Monarch Medical Technologies. On January 23, Semler revealed plans to secure $75 million through the private offering of convertible senior notes to finance its Bitcoin strategy.
“We are ecstatic about the progress we’ve made in increasing our Bitcoin portfolio,” stated Eric Semler, Chairman of Semler Scientific. He also expressed satisfaction at having converted a portion of the company’s investment in Monarch Medical into more Bitcoin.
The latest data positions Semler as the 10th-largest corporate holder of BTC, as per Bitcoin Treasuries. In November, Semler Scientific CEO Doug Murphy-Chutorian stated the company’s continued dedication to the acquisition and retention of Bitcoin.
Meanwhile, on February 3, MicroStrategy, the largest corporate holder of BTC worldwide, announced the cessation of further purchases, choosing to maintain its current holdings of 471,107 BTC, valued at around $46 billion.
