Publicly traded company Semler Scientific has expanded its cryptocurrency portfolio by purchasing an additional 237 Bitcoins.
According to an official press release, the purchase, valued at $23.3 million, was made between December 16, 2024 and January 10, 2025.
The company purchased the Bitcoins at an average price of $98,267 per Bitcoin, including fees and expenses. The transaction was funded with proceeds from Semler Scientific’s marketplace offering and operating cash flow.
As of January 10, 2025, Semler Scientific owns 2,321 Bitcoins, purchased at an average purchase price of $82,687 per BTC for a total cost of $191.9 million. The company also reported a Bitcoin return of 99.3%.
However, the company’s average BTC purchase cost of $82,687 is very close to the current BTC price. At the time of writing, the BTC price is trading at $91,896 and has fallen below $90,000 during the day. If the BTC price continues to fall, the company’s assets may soon start to lose money.
Following a similar strategy, MicroStrategy founder Michael Saylor recently congratulated Semler Scientific for its BTC purchases and said that the company complies with the Bitcoin Standard.
*This is not investment advice.
