- Semler buys 187 more Bitcoins, spending $20 million this quarter.
- Company’s Bitcoin stash grows to 4,636 BTC, with $72M paper profit.
- Semler aims for 105,000 Bitcoins by 2027, strengthening inflation hedge.
Semler Scientific, a Nasdaq-listed healthcare technology company, has made another big bet on Bitcoin. The company revealed this latest move in a filing with the U.S. Securities and Exchange Commission on Monday. According to the document, Semler purchased 187 Bitcoins between June 4 and July 2. It cost approximately 20 million dollars to acquire this. The average price paid by the company for purchasing Bitcoin was $ 106,906.
Semler Now Holds 4,636 BTC, Sees $72M Unrealized Profit
Semler shocked many by announcing a decision of the same nature earlier this year. In May, the company was reported to have purchased 455 Bitcoins at a cost of $50 million. Back then, the average price per coin was paid by Semler at 109,801 dollars. Such a daring move demonstrated that the company views Bitcoin as a worthwhile resource.
The recent purchase has further increased the number of Bitcoins owned by Semler to an even bigger amount. The total number of Bitcoins in the possession of the company is 4,636. These coins were purchased by Semler at about $430 million. But since the price of Bitcoin has increased, this stash is currently worth around 502 million dollars in market value. It translates into the fact that Semler has already earned an approximate paper profit of 72 million dollars.
Semler is a company that produces medical technology. However, it is also gaining fame behind its large-scale operations in the digital product world. The management of the company is convinced that Bitcoin is a solid value store. This is why Semler has ambitious plans to continue to purchase Bitcoin in its balance sheet.
In June, the company outlined a daring target to its investors. It is eager to put more Bitcoin in its bag on a large scale in the coming years. Semler is hoping to achieve 10,000 Bitcoins by the 31st of 2025. However, that is not everything. The goal within the next 2026 is to possess 42,000 Bitcoins. The target is set even higher in 2027 at an amount of 105,000 Bitcoins.
Semler Aims to Join World’s Largest Corporate Bitcoin Holders
If Semler reaches these goals, it will become one of the largest corporate holders of Bitcoin in the world. According to the company, this strategy will save its money against inflation. It also desires to take advantage in case the price of Bitcoin appreciates in the future.
To date, the strategy developed by Semler seems to be performing brilliantly. This year, the price of Bitcoin has remained high. The initial investments made by the company are paying off in paper form. However, analysts are reminding investors that Bitcoin prices are volatile and can shift rapidly. Though it has large profit potential, it has large potential losses too.
However, such a radical attitude has made a stir among numerous individuals interested in the world of technology and finance alike. In recent years, other companies have also purchased Bitcoin. To illustrate, software company Strategy, formerly known as MicroStrategy, is notorious in terms of storing substantial quantities of Bitcoin. Semler now aspires to pursue the same course.
Meanwhile, Semler further pursues its core operations in the medical technology sector. This firm feels that its combination of core business with a substantial Bitcoin stance will enable it to expand.
Finally, the new purchase of Bitcoin by Semler Scientific demonstrates its trust in digital currencies. The company will continue to add Bitcoin to its holdings. This ambitious move will be under the watchful eye of many who want to see whether the gamble will be worth the result.
