Semler’s Risky Bet on Bitcoin: Are They Crazy or Genius? Find Out!

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Semler Scientific (SMLR), a US-based medical technology company, is *on a roll* – they’re diving right back into Bitcoin (BTC), even though they’re sitting on a lovely 5.0% unrealized loss from their last crypto adventure. Talk about a rollercoaster ride! 🎢💸

So, what’s their latest bright idea? They’ve filed a Form S-3 with the SEC to raise a whopping $500 million through a securities offering. Yep, half a billion bucks. Guess what they plan to do with it? You guessed it – buy more Bitcoin. Because who doesn’t love a good gamble, right? 💰

Semler Goes All-In on Bitcoin (Again!)

According to their filing, they’ll be issuing common stock, preferred stock, debt securities, and even some fancy warrants to make this happen. But, don’t get too excited, they didn’t bother to tell us exactly how much they’re going to dump into Bitcoin. So, *surprise!* Keep your eyes peeled for that. 👀

“We have not determined the amount of net proceeds to be used specifically for such purposes. As a result, management will retain broad discretion over the allocation of the net proceeds of any offering,” says the official filing. Translation: “We’re not sure yet, but we’re probably going all in on crypto.” 🤑

Let’s rewind a bit. Back in January, Semler bought 871 BTC for $88.5 million, at an eye-watering price of $101,616 per Bitcoin. That’s right folks, just a little pocket change for them. 🤷‍♂️ They even made a couple more purchases between January 11 and February 3. At the end of the day, they added a few more coins to their hoard, bringing their total Bitcoin holdings to 3,192 BTC. (Yeah, that’s $266.1 million worth, just sitting there.) Talk about a heavy bet on a volatile asset. 🤦‍♂️

“From January 1, 2025, to February 3, 2025, Semler’s BTC Yield was 21.9%. From July 1, 2024, to February 3, 2025, Semler’s BTC Yield was 152.2%,” they bragged. So, things *were* looking pretty hot for a minute. But guess what? 🧐

Now, fast forward to today. According to Bitcoin Treasuries, Semler’s average acquisition price is $87,850 per Bitcoin. At the time of writing, Bitcoin’s market price is $83,397. So, they’re *officially* sitting on a 5.0% loss. Hey, at least it’s not the 14.7% loss they faced when Bitcoin dipped below $80,000. 🎯 Talk about timing, huh?

Despite this, Semler’s leadership is sticking to their guns and maintaining that Bitcoin is a long-term play. They’re in it for the store-of-value game. Or maybe just because Bitcoin is shiny and fun. Who knows? 😆

Semler isn’t alone in the “let’s throw money at Bitcoin” party. Other companies, like Strategy (formerly MicroStrategy) and Metaplanet, have also gone full crypto-mode this week. They dropped $285 million and $26.3 million respectively on the magical digital coin. I’m starting to think Bitcoin is the new “hot thing,” but don’t quote me on that! 💻

Oh, and as if the drama couldn’t get juicier – Semler’s also dealing with some legal headaches. On April 15, they announced a *preliminary* $29.75 million settlement with the US Department of Justice (DOJ). This is to resolve allegations about some shady marketing related to their QuantaFlo product. It’s a lot to juggle, right? But hey, who needs boring old FDA approval when you can have crypto chaos AND legal battles? 😜

The settlement is still waiting for final approval, so buckle up – this rollercoaster isn’t over yet! 🎢

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2025-04-16 12:51