Guess who just climbed the Bitcoin ladder? Semler Scientific has now snagged the 17th spot among publicly traded companies with the biggest Bitcoin holdings. They've even surpassed Japan’s bigwig, Metaplanet!
In a daring move, Semler, known for its medical diagnostics magic, has scooped up an additional 47 Bitcoins, shelling out a cool $3 million of their operational cash flow since their last update in August. As of now, their Bitcoin treasure chest has swelled to a whopping 1,058 BTC. With Bitcoin prices on the rise, this stash is now worth about $80 million as of November 8th!
Even though Semler's revenue dipped to $13.5 million in the third quarter—a 17% slide from previous numbers—they’re not fretting. Their operating income also took a hit, slipping to $5.1 million, but the company is steadfast in its mission to gobble up more Bitcoin.
Eric Semler, the chairman of the company, is all in on this Bitcoin bonanza. He sees it as a golden opportunity to boost stakeholder value. The plan is simple: keep buying Bitcoin using operational cash and funds from their at-the-market sales program, while also thinking outside the box for other financing options to fuel their crypto acquisitions.
Doug Murphy-Chutorian, the CEO, is also on board with this crypto craze. He’s thrilled with the strong performance from their healthcare business and is laser-focused on expanding their Bitcoin hoard while nurturing innovation and growth in their primary business.
By upping their Bitcoin game, Semler has leapfrogged Metaplanet, which holds 1,015.2 BTC, according to Bitcoin Treasuries.
This isn’t just a flash in the crypto pan. More and more companies are hitching their wagons to Bitcoin as a strategic asset. The trendsetter? MicroStrategy, who under the visionary eye of former CEO Michael Saylor, made a splash with a massive Bitcoin investment in 2020, touting it as a better store of value than cash. Now, MicroStrategy holds a jaw-dropping 252,220 BTC, making them a titan in the corporate Bitcoin world.
Semler, joining the ranks, declared Bitcoin as their primary treasury reserve asset back in May. They’re betting big on Bitcoin’s scarcity, fixed supply, and its potential as a hedge against inflation and a safe haven in these uncertain times. They kicked off this strategy by snagging 581 Bitcoins for $40 million, taxes and all, and they’re sticking to Bitcoin, steering clear of other crypto temptations.
So, there you have it! Semler is making waves in the crypto sea, and it looks like they’re just getting started. Who knows what their next move will be in the thrilling world of Bitcoin!
