Healthcare technology firm Semler Scientific has announced plans to raise $75 million through a private offering of convertible senior notes maturing in 2030.
According to a January 23 press release, part of the proceeds will be allocated to purchasing additional Bitcoin
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, reinforcing the company’s commitment to its Bitcoin treasury strategy.
The announcement coincided with Semler’s preliminary Q4 2024 earnings report release, revealing an unrealized gain of $28.9 million from its Bitcoin holdings.
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Semler Purchase an Additional 237 BTC Earlier This Month
Earlier this month, the firm purchased an additional 237 BTC, bringing its total holdings to 2,321 BTC, valued at approximately $241 million based on Bitcoin’s trading price of $105,000.
Semler began its Bitcoin investment strategy in May 2024, acquiring 581 BTC initially. The news led to a 30% surge in the company’s stock price at the time.
CEO Doug Murphy-Chutorian reaffirmed the company’s commitment to Bitcoin, stating, “We are excited to continue executing our Bitcoin treasury strategy.” Murphy-Chutorian had previously emphasized the firm’s focus on Bitcoin as a key component of its financial planning.
$SMLR Announces Proposed Private Offering of $75 million of Convertible Senior Notes and Preliminary Unaudited 4th Quarter 2024 Financial Results with Significant Gain from Change in Fair Value of Bitcoin Holdings
— Eric Semler (@SemlerEric) January 23, 2025
Bitcoin’s value has reached new all-time highs in recent months, peaking at $109,000 ahead of President Donald Trump’s inauguration on January 20.
The growing interest in Bitcoin has seen several public companies, including Hoth Therapeutics and Genius Group, adopt similar treasury strategies.
MicroStrategy remains the largest corporate Bitcoin holder, with 461,000 BTC worth $48 billion, dwarfing Semler’s holdings, which rank 13th among public companies.
Despite the bullish outlook on Bitcoin, Semler’s stock performance has shown mixed results. Shares fell 1.55% on January 23 and dropped a further 12% in after-hours trading to $53.75 following the fundraising announcement.
While Semler’s stock has climbed 38% over the past 12 months, it remains well below its all-time high of $149.99 in October 2021.
With its latest move, Semler joins the growing list of companies betting on Bitcoin as part of their corporate treasury strategy, signaling confidence in the long-term potential of the cryptocurrency.
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VanEck: US Could Slash National Debt By 35% With 1 Million Bitcoin Reserve
The US could potentially reduce its national debt by 35% within 24 years by establishing a reserve of 1 million Bitcoin, according to a report by asset management firm VanEck. The projection aligns with a proposal introduced by Senator Cynthia Lummis.
VanEck’s analysis assumes Bitcoin will grow at a compounded annual growth rate (CAGR) of 25%, reaching $42.3 million per BTC by 2049. During the same period, the U.S. national debt is expected to increase at a 5% CAGR, ballooning from $37 trillion in 2025 to $119.3 trillion.
According to the report authored by VanEck’s head of digital asset research, Matthew Sigel, and investment analyst Nathan Frankovitz, a Bitcoin reserve could offset approximately $42 trillion in national liabilities by 2049.
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The post Semler Scientific Plans $75M Raise to Expand Bitcoin Holdings After $29M Paper Gain appeared first on 99Bitcoins.
