Scientific firm Semler enhance Bitcoin holdings to $314 million, with chairman asserting skeptics can offload shares
Rewritten Piece:
The Healthcare Titan's Bitcoin Gamble
In a bold move, NASDAQ-listed healthcare powerhouse Semler Scientific has upped its Bitcoin stash, now cradling a whopping 3,303 BTC, worth a staggering $314 million.
Chairman Eric Semler, in an interview at Bitwise’s Bitcoin Standard Corporation Investor Day, threw down the gauntlet to skeptics, saying, "If you don't like our Bitcoin play, feel free to sell. We're a public company, and you have that right."
Just one day post this bold talk, Semler Scientific declared it had scooped up an additional 111 BTC for a ten-million-dollar investment. Maintaining its growing trend, the company now holds a substantial Bitcoin fortune under its belt.
Semler Scientific's foray into Bitcoin began last year with a $40-million transaction to buy 581 BTC. Since then, it's been a relentless pursuit, mirroring the approach of software giant Strategy (formerly MicroStrategy), the leading corporate Bitcoin hoarder to date.
Strategy pioneered the Bitcoin investment approach during the height of COVID-19-induced inflation. The company has since actively bought Bitcoin, with a major focus on securitizing the asset, allowing investors to reap the benefits of Bitcoin's price volatility indirectly.
Strategy boasts a mind-boggling Bitcoin reserve worth $51 billion, having accumulated a staggering 538,000 BTC.
Following suit are other Nasdaq-listed companies such as Cosmos Health and auto firm Worksport. Springing from the MicroStrategy mold, they too view Bitcoin as a strategic asset to enhance shareholder returns.
On the stock market front, Semler Scientific is currently riding a 3% surge, trading at $35.40 per share. Bitcoin, interestingly, edged closer to the $95,000 mark, marking its first two-month high.
Article contributed by Liz Napolitano, edited by Andrew Hayward
In another sphere, it's worth noting that Tokyo-listed real estate firm Metaplanet and Argentinian e-commerce giant MercadoLibre have also adopted Bitcoin investment strategies, though they are not NASDAQ-listed and don't mirror MicroStrategy's specific approach as closely as Semler Scientific or other Nasdaq companies like Cosmos Health or Worksport.
Over 70 public companies have made a move to add Bitcoin to their balance sheets, but details on specific Nasdaq-listed companies emulating MicroStrategy's Bitcoin strategy exactly are scarce.
[1] CNBC, "MicroStrategy Buys the Dip as New Institutional Investors Eye Bitcoin," Ciaran Ray, December 22, 2020, https://www.cnbc.com/2020/12/22/microstrategy-buys-the-dip-as-new-institutional-investors-eye-bitcoin.html
[5] Business Insider, "Here are the 73 public companies that have added Bitcoin to their balance sheets, according to Andy Snyder," Ben Winck, April 2, 2021, https://www.businessinsider.com/public-companies-with-bitcoin-balance-sheets-2021-4
- Semler Scientific, having amassed a considerable crypto fortune of 3,303 BTC worth over $314 million, continues its aggressive foray into Bitcoin, following in the footsteps of corporations like Strategy (formerly MicroStrategy) that view Bitcoin as a strategic asset for boosting shareholder returns.
- Like Semler Scientific, Cosmos Health and auto firm Worksport are Nasdaq-listed companies adopting a similar strategy to MicroStrategy, viewing Bitcoin as a means to enhance their business operations and financial standing.
- In a similar vein, Tokyo-listed real estate firm Metaplanet and Argentinian e-commerce giant MercadoLibre have adopted Bitcoin investment strategies, imitating the bullish stance on cryptocurrency but not necessarily following the exact approach as MicroStrategy.
- Over 70 public companies have integrated Bitcoin into their balance sheets, making significant crypto investments like Initial Coin Offerings (ICOs), but specific details on Nasdaq-listed companies mirroring MicroStrategy's Bitcoin strategy exactly are scarce.
- Strategy set the tone for corporate Bitcoin investment during the COVID-19 pandemic, actively buying Bitcoin and securitizing the asset, allowing investors to capitalize on Bitcoin's price volatility indirectly.
- Currently, Strategy holds a vast Bitcoin reserve worth $51 billion, holding a staggering 538,000 BTC, making it the leading corporate Bitcoin hoarder to date.
- In the financial and technology realm, various companies like Semler Scientific, Strategy, Cosmos Health, Worksport, Metaplanet, and MercadoLibre demonstrate a growing interest in cryptocurrencies like Bitcoin, broadening the landscape of business operations beyond traditional practices.
