Publicly traded healthcare services provider Semler Scientific has announced yet another round of 211 Bitcoin purchases for $21.5 million at an average cost of $101,890 per BTC. The firm spread out its purchases over 10 days, from December 5 to December 15, to buy at different prices because the Bitcoin market is volatile.
The latest purchase brought the company’s total holdings to 2,084 BTC. It was funded with proceeds from its at-the-market(ATM) offering and operating cash flow.
Meanwhile, the healthcare tools manufacturer stated that it has filed a second prospectus with Cantor Fitzgerald & Co. to supplement the first filed in August. The second prospectus will allow Semler Scientific to offer an additional $50 million worth of shares under its existing ATM offering.
Semler Scientific’s Bitcoin Journey
Recall that the publicly traded firm stepped into the crypto space earlier in May by acquiring 581 BTC. It plans to make Bitcoin its primary treasury asset, as it views the king crypto as a store of value and an asset with growth potential.
Since then, the medical tech firm has repeatedly pledged loyalty to the pioneering coin and has been on several Bitcoin purchase sprees. For instance, Semler Scientific bought 247 BTC in June after its initial purchase a month earlier, costing $17 million.
Profitable Bitcoin Yield Year-to-Date
The healthcare services-providing firm’s bitcoin holding has recorded a BTC yield of 92.8% year to date, while in Q3, Semler Scientific had a 67.0% BTC yield.
At the time of writing, data found on Bitcoin Treasuries, a crypto platform that provides comprehensive data and insights on bitcoin holdings of private and public companies, reveals that Semler Scientific now takes the 14th position among publicly traded firms holding bitcoin.
Amid growing institutional Bitcoin adoption, Bitcoin strengthens its qualification as a store of value and a means of exchange. Like MicroStrategy and Riot Platforms Inc., today’s purchase by Semler Scientific indicates its belief in Bitcoin as an asset class.
