TL;DR
- Semler plans to issue $75 million in convertible notes to fund additional Bitcoin purchases and other corporate activities.
- The value of its current 2,321 BTC holdings has generated an unrealized gain of $28.9 million, boosting its market relevance.
- The company ranks among the top firms with the largest Bitcoin treasury, currently holding the 13th position.
Semler Scientific, a healthcare technology and software firm, has announced plans to raise $75 million through a private offering of senior convertible notes maturing in 2030. According to the January 23 announcement, the funds will be allocated to corporate activities, including additional Bitcoin purchases. This move reinforces the company’s vision to establish itself as a key player in leveraging cryptocurrencies as part of its financial strategy.
Currently, Semler holds 2,321 BTC, which it has acquired gradually since May 2024. Its most recent significant purchase occurred on January 13, when the company added 237 BTC to its holdings. With Bitcoin trading at approximately $105,000, Semler’s total Bitcoin reserves are valued at $241 million, reflecting an unrealized gain of $28.9 million since acquisition.
Semler CEO Doug Murphy-Chutorian stated,
“We are excited to continue executing our Bitcoin treasury strategy.”
This approach has driven a 38% increase in the company’s stock value over the past 12 months, although its shares remain below the all-time high of $149.99 reached in October 2021.
The Rise of Bitcoin in Corporate Finance
Semler isn’t alone in its Bitcoin bet. Other public companies like MicroStrategy, Rumble, and Genius Group have adopted similar strategies, positioning Bitcoin as a core asset on their balance sheets and signaling growing institutional trust in cryptocurrencies. MicroStrategy, led by Michael Saylor, holds the title of the public company with the largest Bitcoin treasury, amassing 461,000 BTC worth $48 billion, setting a benchmark for others to follow.
Institutional adoption of Bitcoin continues to drive its price to new all-time highs and solidify its role in modern finance. Recently, Bitcoin reached $109,000, fueled by investor interest, corporate adoption, and its reputation as a hedge against global economic uncertainty, which has attracted diverse industries.
Despite these advancements, Semler faces challenges in the stock market, with a 12% drop in its share value during after-hours trading on January 23. However, the company’s focus on diversifying its treasury and its strong commitment to Bitcoin align with a long-term strategy to capitalize on opportunities in the cryptocurrency market.
With these moves, Semler Scientific has positioned itself as the 13th largest Bitcoin-holding public company, joining a list led by industry giants like MicroStrategy.
