Semler Scientific Embraces Bitcoin, Again
Semler Scientific, a medical device company known for its innovative hearing aids, has once again demonstrated its bullish sentiment towards Bitcoin. Between May 13 and May 22, the company purchased $50 million worth of Bitcoin, significantly expanding its cryptocurrency holdings. This latest acquisition brings Semler Scientific‘s total Bitcoin treasury to a hefty $474.4 million, solidifying its position among the top 13 Bitcoin treasury companies.
The company disclosed that it purchased 455 BTC at an average price of $109,801, using proceeds from an at-the-market stock offering program. This strategy involved selling approximately 3 million shares of common stock, generating net proceeds of $115 million. While the move might signal a strong belief in Bitcoin‘s potential, it also raises questions about its timing and long-term implications.
Market Reaction and Questions
Semler Scientific‘s share price dipped 1.36% on the day of the disclosure, largely mirroring the Nasdaq‘s 1% decline. However, the company’s stock has experienced a more significant drop of 18% in 2025, despite its enthusiastic embrace of Bitcoin. This raises concerns about the efficacy of the Bitcoin treasury strategy, especially considering that the company reported a 44% drop in revenue year-over-year in its Q1 2025 earnings report.
Bitcoin treasury companies, popularized by Michael Saylor’s MicroStrategy, have attracted investors seeking exposure to Bitcoin‘s price fluctuations. While Bitcoin has seen a remarkable 181.6% surge year-to-date, Semler Scientific‘s share price has only risen 53% since announcing its Bitcoin treasury strategy in May 2024. This begs the question: Is the strategy merely a reflection of Bitcoin‘s upward trend, or is there a tangible link between the company’s Bitcoin holdings and its overall financial performance?
While the decision to invest heavily in Bitcoin may be seen by some as bold and forward-thinking, others might question its strategic value during a period of economic uncertainty and market volatility. As Semler Scientific navigates this uncharted territory, its journey serves as a compelling case study for businesses venturing into the world of cryptocurrency.
