As a seasoned crypto investor with over a decade of experience in this dynamic market, I find Semler Scientific Inc.’s foray into Bitcoin acquisition intriguing and potentially profitable. My personal journey in this space has taught me that institutional adoption is a significant catalyst for growth, as we’ve seen with MicroStrategy Inc.
Semler Scientific Inc., a California-based firm specializing in healthcare software solutions for performance enhancement, disclosed the purchase of approximately 303 Bitcoins between November 25 and December 4, 2024. The company stated that they acquired this latest Bitcoin stash at an average cost of around $96,779 per unit.
Currently, Semler Scientific owns a total of 1,873 Bitcoins, which were acquired at approximately $147.1 million in total. The average price per Bitcoin was around $78,553. In a recent announcement, the company plans to sell an additional $50 million worth of its shares through its existing ATM offering with Cantor Fitzgerald. This brings the total amount that can be offered under this program up to $100 million.
As a result, Semler Scientific managed to gather a grand total of $79.8 million through its ATM offering by selling shares. Prior to purchasing 303 Bitcoins, the company’s Bitcoin return was approximately 54.7%.
Eric Semler, the chairman of Semler Scientific, happily shares that we’ve achieved an outstanding Bitcoin Yield of 78.7%. Moreover, he has applied for authorization from options exchanges to enable trading in our company’s stock, as he is confident that we meet their qualifications for such a privilege.
In recent months, the continuous purchase of Bitcoins has significantly contributed to the remarkable surge in the Small Cap (SMLR) stock market.
As per recent market information, shares of SMLR surged by approximately 149% over the last three months, reaching around $59 on Thursday, December 5, during the midday trading in New York. This company with a valuation of $525 million appears to be mirroring MicroStrategy Inc. (traded as MSTR on NASDAQ), which has amassed over 402,000 Bitcoins so far.
Impact on the Bitcoin Ecosystem
As a researcher, I’ve observed an influential factor in the persistent bullish sentiment surrounding Bitcoin: the increased acceptance by institutional investors. For the first time ever in Bitcoin’s journey, Open Interest (OI) soared above $66 billion, a surge that mirrors the recent spike in BTC price beyond the $100k mark.
Over the recent days, an influx of approximately $114 billion has moved into the cryptocurrency market, suggesting a growing belief and faith in the web3 sector. Additionally, it’s been reported that BlackRock’s IBIT has been acquiring around $50 million worth of Bitcoins each day for the past few weeks, which has boosted US spot Bitcoin ETF holdings to surpass 1 million units.
In the upcoming years, it’s anticipated that the Bitcoin sector will expand further, with many governments planning to establish strategic Bitcoin reserves as a means to address their increasing debt issues. Additionally, Federal Reserve Chairman Jerome Powell views Bitcoin as a form of digital gold.
Over the past month, large Bitcoin investors, known as “whales,” have been adding even more coins to their holdings. This has resulted in a decrease of over 135,000 coins from the total supply available on centralized exchanges, leaving approximately 2.26 million coins remaining at the time this report was written.
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2024-12-05 23:18