TL;DR
- Semler bought 210 BTC for $25M at an average price of $118,974, as BTC consolidates above $115,000.
- The company now holds 4,846 BTC acquired at an average of $93,890. Its holdings are valued at over $570M, with $115M in unrealized gains.
- Semler climbed to 14th place among companies with the largest BTC reserves, surpassing GameStop and Metaplanet.
Semler Scientific added another 210 BTC to its balance sheet between July 3 and July 16, spending a total of $25M. The purchase was made at an average price of $118,974 per coin, during a consolidation phase with Bitcoin holding above $115,000.
With this acquisition, the company now holds a total of 4,846 BTC in treasury, purchased at an average price of $93,890. Its full holdings are currently valued at over $570M, representing more than $115M in unrealized profit.
Semler Overtakes GameStop and Metaplanet
The steady growth of its BTC reserves places Semler in 14th position among public companies with the largest Bitcoin holdings, surpassing GameStop, which owns 4,710 BTC. The firm also recently overtook Metaplanet, the Japanese company that adopted a similar strategy of using BTC as a core asset on its balance sheet.
The acquisition was funded through an at-the-market equity offering, allowing the company to raise capital gradually based on market demand. Since April, this mechanism has generated $175M, part of which has been used to buy Bitcoin. Like many other firms, Semler’s strategy is grounded in long-term value preservation through exposure to a scarce, decentralized, and globally liquid asset.
New Metric: BTC Return per Share
In addition to strengthening its position, Semler has started including a new metric in its public filings: BTC return per share, which tracks the implied gain relative to total shares outstanding. According to its data, the ratio has increased by 30.3% so far this year, and is now being used as a pitch to attract investors seeking Bitcoin exposure through the stock market.
Semler’s shares showed no significant movement in pre-market trading, mirroring BTC’s slight dip to $117,900. The current price still leaves room for additional purchases without straying far from the company’s average cost basis, which could lead to further acquisitions if the firm sticks to its strategy
