Crypto news

Semler Scientific’s Bitcoin Bonanza: A Comedy of Errors and Fortunes

BBG News

In a rather audacious display of financial bravado, Semler Scientific, that illustrious purveyor of medical devices, has decided to plunge headfirst into the murky waters of cryptocurrency, purchasing a staggering $50 million worth of Bitcoin between the 13th and 22nd of May. This bold move has catapulted the company’s Bitcoin (BTC) holdings to a princely sum of $474.4 million, securing its position among the top 13 BTC Treasury companies. Bravo! 🎩

According to a disclosure on the 23rd of May—because who doesn’t love a good financial disclosure?—Semler acquired a total of 455 BTC at an average price of $109,801. One must wonder, did they consult a fortune teller before making such a purchase? To fund this digital escapade, Semler Scientific cleverly utilized proceeds from an at-the-market stock offering program. So far, they’ve managed to sell approximately 3 million shares of common stock, raking in net proceeds of $115 million. Quite the entrepreneurial spirit, wouldn’t you say? 💰

However, not all that glitters is gold. On the very day of this grand announcement, Semler Scientific’s shares took a nosedive, falling 1.36%. But fear not, dear investors! This decline is merely a reflection of the Nasdaq’s own performance, which was down a modest 1% that day. It’s all relative, after all! 📉

In its Q1 2025 earnings report, released on the 13th of May—because timing is everything—the company revealed a rather alarming 44% drop in revenue year-over-year. Despite the purported success of its Bitcoin treasury plan, Semler Scientific’s shares have plummeted by 18% in 2025, according to the ever-reliable Google Finance. One can only imagine the boardroom discussions! 🤔

Bitcoin treasury companies, those daring entities that traditionally sell equity or issue debt to acquire BTC, have been capturing the attention of investors eager for a taste of Bitcoin’s wild price fluctuations. It’s like a rollercoaster ride, but with more spreadsheets and fewer safety harnesses!

Let us not forget the illustrious Michael Saylor, whose strategy debuted its BTC reserve back in August 2020. Since then, Bitcoin has soared by an impressive 181.6% year to date, while Semler Scientific’s shares have risen a mere 53% since announcing their BTC approach in May 2024. A tale of two fortunes, indeed! 🎢

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2025-05-24 02:37

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