Healthcare company Semler Scientific has significantly expanded its Bitcoin holdings with a new purchase of 215 BTC, worth $17.7 million.
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This latestacquisition, made between November 6 and November 15, brings the firm’s totalBitcoinstash to 1,273 BTC. The company paid an average price of $82,502 per Bitcoin, including all associated fees.
Semler has been building its Bitcoin position since May, when it initially purchased $40 million worth of Bitcoin, inspired by MicroStrategy’s Bitcoin investment model. The firm has since made additional large BTC buys, increasing its holdings to over 1,000 BTC earlier this month.
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The company’s strategy is paying off, with Semler reporting an 18.9% increase in Bitcoin yield from October 1 to November 15. Overall, its Bitcoin holdings have generated a 37.3% yield since the acquisition began. The firm’s decision to purchase Bitcoin at a time when the cryptocurrency is experiencing record highs has proven advantageous, as all of its holdings are now profitable.
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Semler’s bold Bitcoin investment approach has also positively impacted its stock price, which surged by 10.36%, reaching $49.09 on the NASDAQ. Investors are clearly responding favorably to the company’s exposure to Bitcoin.
