U.Today - Semler Scientific, a medical technology and software company based in California, has acquired a significant amount of Bitcoin (BTC). According to Eric Semler, chairman and founder, in an X post, the company acquired 303 BTC for approximately $29.3 million.
Following MicroStrategy’s playbook
The recent purchase of Bitcoin was at an average cost of about $96,799 per BTC. Semler Scientific claims it has achieved a Bitcoin yield of 54.7%, quarter-to-date (QTD) so far, with its acquisition of BTC. Since adopting Bitcoin as its treasury strategy in May of this year, the figure is 78.7%.The recent addition takes Semler Scientific’s cumulative Bitcoin holding to 1,873 BTC. This total haul cost the company $147.1 million at an average acquisition price of $78,553 per Bitcoin.
With the current price of Bitcoin trading at $102,411 as of this writing, Semler Scientific already has made a profit of $1,700,436 on its 303 BTC purchase. However, based on its total holding of 1,873 BTC, Semler’s profit margin is approximately $44,686,034.
This margin highlights the profitability of Bitcoin to Semler Scientific since betting on the asset. This indicates that the company’s approach has surpassed traditional treasury strategies for investment.
Will trend in corporate Bitcoin adoption grow?
Semler Scientific's investment in Bitcoin as part of its corporate strategy mirrors MicroStrategy’s. The business intelligence firm recently added 15,400 BTC at approximately $1.5 billion to its Bitcoin bag. MicroStrategy currently holds a staggering 402,100 BTC, or 2% of all Bitcoin.Michael Saylor, the executive chairman of MicroStrategy, remains a Bitcoin enthusiast with an unshaken belief in the asset.
Saylor recently gave a three-minute presentation to Microsoft’s Board of Directors on why the tech giant should embrace Bitcoin. Saylor has always emphasized that Bitcoin has assisted MicroStrategy in outpacing every stock in the S&P 500 index and recommends it to others.
Besides Semler Scientific, the Japanese publicly traded firm Metaplanet is also following the playbook of MicroStrategy in the acquisition of Bitcoin. As of October, Metaplanet has raised its total Bitcoin holdings to 1,018.17 BTC.